, increasing the ratio between the 95th and 50th percentiles from 3.7 to 4.8. We conclude that the impact of hierarchy on …

, increasing the ratio between the 95th and 50th percentiles from 3.7 to 4.8. We conclude that the impact of hierarchy on …

's credit decisions affect their future income. We use the bank's cutoff rule, which is based on the applicants' credit scores … acceptance increases recipients' income five years later by more than 10 percent compared to denied applicants. This effect is …

creates the power-law income distribution tail. Using the available case-study evidence on firm hierarchy, I create the first …What explains the power-law distribution of top incomes? This paper tests the hypothesis that it is firm hierarchy that … reproduces the power-law scaling of top US incomes. I show that this is purely an effect of firm hierarchy. This raises the …

. Second, I find that hierarchy plays an important role in shaping income and income distribution. I find that income scales … structure of US firms, I find that hierarchy plays a dominant role in shaping the income distribution tail. These results hint … that hierarchy can be used to unify the study of economic growth (understood in biophysical terms) and income distribution …