follow the mapping suggested by the household budget constraint from individual wages to individual earnings, to household … earnings, to disposable income, and, ultimately, to consumption and wealth. We document a continuous and sizable increase in … wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality …

-sectional inequality in hours worked, earnings and consumption, and for welfare. The framework for the analysis is an incomplete …

This paper examines the mobility of individuals through the wage and earnings distributions. This is of extreme … importance since mobility has a direct implication for the way one views the vast changes in wage and earnings inequality in the … United States over the last few decades. The measures of wage and earnings mobility analyzed are based on data for …

-through profit is explained by both rising productivity and a rising share of value added accruing to owners … “pass-through” business profit, which can include entrepreneurial labor income for tax reasons. This paper asks whether top … pass-through profit mostly reflects human capital, defined as all inalienable factors embodied in business owners, rather …

in place. After a tax reform in 2005 that created strong incentives to retain earnings within businesses, the increase … was massive: accounting for earnings retained in the corporate sector leads to more than doubling of the share of income … of top 0.1% in some years. Furthermore, adjusting for retained earnings stabilizes the composition of the top income …

productivity and country-specific variables. In contrast to canonical export models where firm profits are additively separable …

our benchmark assumption that industry prices are independent of productivity. When we allow for the endogeneity of …