Does the stock market affect income distribution? Some empirical evidence for the US

What is the relation between the stock market and income distribution? There are many potential links between the two, some of which are associated with the relations of each of these with the rate of economic growth. An empirical analysis set in the framework of the neoclassical growth model shows that the key mechanisms explaining income distribution in the US operate through the labour market rather than through the stock market, even though stock market shocks appear to have some short time relevance for the dynamics of income distribution.