English, Article, Journal or magazine article edition: Common Trends and Shocks to Top Incomes – A Structural Breaks Approach Roine, Jesper; Waldenström, Daniel

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Bookmark: http://trove.nla.gov.au/version/147853
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Common Trends and Shocks to Top Incomes – A Structural Breaks Approach
Author
  • Roine, Jesper
  • Waldenström, Daniel
Physical Description
  • preprint
Notes
  • In this paper we use newly compiled top income share data to estimate common breaks and trends across countries over the twentieth century. By using the most re-cent structural breaks techniques, our approach both confirms previous notions and offers new insights. In particular, the division into an Anglo-Saxon and a Continental European experience does not seem to be as clear cut as previously suggested. Some continental European countries have had increases in top income shares, just as in the Anglo-Saxon countries, but typically with a lag. Most notably, we find that the Nordic countries display a marked “Anglo-Saxon” pattern, with sharply increased top income shares. Unlike in the Anglo-Saxon countries, however, including realized capital gains seems important in these countries. Our results help inform theories about the causes of the recent rise in inequality.
  • Top Incomes; Income Inequality; Economic Development; Common Structural Breaks
  • RePEc:hhs:iuiwop:0801
Language
  • English
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