We investigate the cyclicity of the income distribution and quantify the relation with the business cycle. We apply standard turning point analysis and filtering techniques to a large microdataset of US individual incomes that combines survey data, tax records and national accounts. We document...

There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...

The national economy is often described as having a business cycle over which aggregate output enters and exits distinct expansion and recession phases. Analogously, national employment cycles in and out of its own expansion and contraction phases, which are closely related to the business...