Tag Archives: inequality

Pareto and Piketty: The Macroeconomics of Top Income and Wealth Inequality

From Chad Jones: Since the early 2000s, research by Thomas Piketty, Emmanuel Saez, and their coathors has revolutionized our understanding of income and wealth inequality. In this paper, I highlight some of the key empirical facts from this research and … Continue reading

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Declining Savings Among the Bottom 90%

From Saez and Zucman (2014)

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Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data

From Emmanuel Saez and Gabriel Zucman: This paper combines income tax returns with Flow of Funds data to estimate the distribution of household wealth in the United States since 1913. We estimate wealth by capitalizing the incomes reported by individual … Continue reading

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Capital Depreciation and Labor Shares Around the World: Measurement and Implications

From Loukas Karabarbounis and Brent Neiman: The labor share is typically measured as compensation to labor relative to gross value added (“gross labor share”), in part because gross value added is more directly measured than net value added. Labor compensation relative … Continue reading

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The Macroeconomics of Piketty

From Chad Jones: Since the early 2000s, research by Thomas Piketty, Emmanuel Saez, and their coathors has revolutionized our understanding of income and wealth in- equality. In this paper, I highlight some of the key empirical facts from this re- … Continue reading

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Tax Evasion on Offshore Profits and Wealth

From Gabriel Zucman: This article attempts to estimate the magnitude of corporate tax avoidance and personal tax evasion through offshore tax havens. In the United States, corporations book 20% of their profits in tax havens – a tenfold increase since … Continue reading

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Is the EITC as Good as an NIT? Conditional Cash Transfers and Tax Incidence

From Jesse Rothstein: The EITC is intended to encourage work. But EITC-induced increases in labor supply may drive wages down. I simulate the economic incidence of the EITC. In each scenario that I consider, a large portion of low-income single … Continue reading

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