wow-inequalities/02-data/intermediate/wos_sample/4205b74591d04ef6f7abbccd62fedce1-alvaredo-facundo-an/info.yaml

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2023-09-28 14:46:10 +00:00
abstract: 'The top 1 percent income share has more than doubled in the United
States over the last 30 years, drawing much public attention in recent
years. While other English-speaking countries have also experienced
sharp increases in the top 1 percent income share, many high-income
countries such as Japan, France, or Germany have seen much less increase
in top income shares. Hence, the explanation cannot rely solely on
forces common to advanced countries, such as the impact of new
technologies and globalization on the supply and demand for skills.
Moreover, the explanations have to accommodate the falls in top income
shares earlier in the twentieth century experienced in virtually all
high-income countries. We highlight four main factors. The first is the
impact of tax policy, which has varied over time and differs across
countries. Top tax rates have moved in the opposite direction from top
income shares. The effects of top rate cuts can operate in conjunction
with other mechanisms. The second factor is a richer view of the labor
market, where we contrast the standard supply-side model with one where
pay is determined by bargaining and the reactions to top rate cuts may
lead simply to a redistribution of surplus. Indeed, top rate cuts may
lead managerial energies to be diverted to increasing their remuneration
at the expense of enterprise growth and employment. The third factor is
capital income. Overall, private wealth (relative to income) has
followed a U-shaped path over time, particularly in Europe, where
inherited wealth is, in Europe if not in the United States, making a
return. The fourth, little investigated, element is the correlation
between earned income and capital income, which has substantially
increased in recent decades in the United States.'
affiliation: 'Alvaredo, F (Corresponding Author), Univ Oxford Nuffield Coll, Oxford
OX1 1NF, England.
Alvaredo, Facundo; Atkinson, Anthony B., Univ Oxford Nuffield Coll, Oxford OX1 1NF,
England.
Alvaredo, Facundo, Dept Econ, Oxford, England.
Alvaredo, Facundo, Consejo Nacl Invest Cient \& Tecn, Consejo Nacl Invest Cient
\& Tecn, RA-1033 Buenos Aires, DF, Argentina.
Atkinson, Anthony B., London Sch Econ, London WC2A 2AE, England.
Piketty, Thomas, Paris Sch Econ, Paris, France.
Saez, Emmanuel, Univ Calif Berkeley, Berkeley, CA 94720 USA.'
author: Alvaredo, Facundo and Atkinson, Anthony B. and Piketty, Thomas and Saez, Emmanuel
author-email: 'alvaredo@gmail.com
tony.atkinson@nuffield.ox.ac.uk
piketty@ens.fr
saez@econ.berkeley.edu'
author_list:
- family: Alvaredo
given: Facundo
- family: Atkinson
given: Anthony B.
- family: Piketty
given: Thomas
- family: Saez
given: Emmanuel
da: '2023-09-28'
doi: 10.1257/jep.27.3.3
eissn: 1944-7965
esi-highly-cited-paper: Y
esi-hot-paper: N
files: []
issn: 0895-3309
journal: JOURNAL OF ECONOMIC PERSPECTIVES
keywords-plus: INCOME INEQUALITY; LONG-RUN; TAX
language: English
month: SUM
number: '3'
number-of-cited-references: '34'
pages: 3-20
papis_id: b91dfc4117b50b79e83894640a656464
ref: Alvaredo2013top1
researcherid-numbers: MOTREB, ayoub EL/AAB-1710-2019
times-cited: '329'
title: The Top 1 Percent in International and Historical Perspective
2023-10-01 08:15:07 +00:00
type: article
2023-09-28 14:46:10 +00:00
unique-id: WOS:000322902300001
usage-count-last-180-days: '9'
usage-count-since-2013: '151'
volume: '27'
web-of-science-categories: Economics
year: '2013'