Parker, Jonathan A.; Vissing-Jørgensen, Annette - 2010
"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 …