business cycle than middle-income individuals. Specifically, their standard deviation relative to the median income is of … almost double magnitude. These findings are robust to the choice of the business cycle filter …

Using a wide variety of business cycle dating and filtering techniques, this paper documents the cyclical behavior of … the post-tax income distribution in the US. First, all incomes are cyclical and co-move with the business cycle. Second …, lower and higher income individuals experience significantly larger fluctuations across the business cycle than middle …

fluctuations. Design/methodology/approach This paper constructs a real business cycle (RBC) model introducing the institutional …