This paper presents theory and evidence on horizontal industry structure, focusing on situations where plant …

We document a large increase in the cyclicality of the incomes of high-income households, coinciding with the rise in … their share of aggregate income. In the U.S., since top income shares began to rise rapidly in the early 1980s, incomes of … those in the top 1 percent of the income distribution have averaged 14 times average income and been 2.4 times more cyclical …

We consider a setting in which insiders have information about income that outside shareholders do not, but property … rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent … with outsiders' expectations based on publicly available information rather than true income, resulting in an observed …

We consider how much of the top end of the income distribution can be attributed to four sectors -- top executives of … represent a substantial portion of the top income groups, they miss a large number of high-earning individuals. We conclude by …

white, male, and come from higher-income families, the incorporated—as teenagers—typically scored higher on learning …

of factors highlighted in the theory are shown to be important in accounting for delegation, such as heterogeneity and …