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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 comment on how they relate to macroeconomics and to...
Persistent link: https://www.econbiz.de/10012457924
This paper considers the taxation of top incomes when the following conditions apply: (i) new ideas drive economic growth, (ii) the reward for creating a successful innovation is a top income, and (iii) innovation cannot be perfectly targeted by a separate research subsidy --- think about the...
Persistent link: https://www.econbiz.de/10012479676
Top income inequality rose sharply in the United States over the last 35 years but increased only slightly in economies like France and Japan. Why? This paper explores a model in which heterogeneous entrepreneurs, broadly interpreted, exert effort to generate exponential growth in their incomes....
Persistent link: https://www.econbiz.de/10012458028
Persistent link: https://www.econbiz.de/10010467590
"Per capita income in the richest countries of the world exceeds that in the poorest countries by more than a factor of 50. What explains these enormous differences? This paper returns to several old ideas in development economics and proposes that linkages, complementarity, and superstar...
Persistent link: https://www.econbiz.de/10003680526
Persistent link: https://www.econbiz.de/10011444258
Persistent link: https://www.econbiz.de/10011409413
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 comment on how they relate to macroeconomics and to...
Persistent link: https://www.econbiz.de/10013040237
This paper considers the taxation of top incomes when the following conditions apply: (i) new ideas drive economic growth, (ii) the reward for creating a successful innovation is a top income, and (iii) innovation cannot be perfectly targeted by a separate research subsidy --- think about the...
Persistent link: https://www.econbiz.de/10012889056
Persistent link: https://www.econbiz.de/10009234695