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• W1800501138 abstract "Rising top income shares in the US have received increased attention both within and outside of academia. In this paper, we argue that the size of the top income share in the US has been consistently shaped by the evolution of the financial sector. We test our hypotheses connecting finance and the top income share over time using empirical methods that probe the co-evolution of historical time series data: Granger causality tests, cointegration tests, and error correction model analysis. We find that the growth of the financial sector has had negative impacts on the equal distribution of market incomes in the US during the last century. Specifically, financial developments have increased the portion of national income accruing to the richest 1%, and the richest 0.01% in particular, as well as increasing the level of poverty in the US during the last century." @default.
• W1800501138 created "2016-06-24" @default.
• W1800501138 creator A5003508345 @default.
• W1800501138 date "2012-01-01" @default.
• W1800501138 modified "2023-09-27" @default.
• W1800501138 title "Finance and American Inequality in the Last Century" @default.
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• W1800501138 doi "https://doi.org/10.2139/ssrn.2000936" @default.
• W1800501138 hasPublicationYear "2012" @default.
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