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Type	Working Paper
Scope	Discipline-based scholarship
Title	The spillover effects of top income inequality
Organization Unit	Department of Economics (Florian Scheuer)
Authors	Joshua Gottlieb David Hémous Jeffrey Hicks Morten Olsen
Language	English
Institution	Centre for Economic Policy Research
Series Name	CEPR Discussion Papers
Number	18212
ISSN	0265-8003
Number of Pages	73
Date	2023
Abstract Text	Top income inequality in the United States has increased considerably within occupations. This phenomenon has led to a search for a common explanation. We instead develop a theory where increases in income inequality originating within a few occupations can “spill over” through consumption into others. We show theoretically that such spillovers occur when an occupation provides non-divisible services to consumers, with physicians our prime example. Examining local income inequality across U.S. regions, the data suggest that such spillovers exist for physicians, dentists, and real estate agents. Estimated spillovers for other occupations are consistent with the predictions of our theory.
Official URL	https://cepr.org/publications/dp18212
Related URLs	https://bfi.uchicago.edu/working-paper/the-spillover-effects-of-top-income-inequality/ https://www.nber.org/papers/w31366 https://www.zora.uzh.ch/255940
Other Identification Number	merlin-id:23984
PDF File	Download from ZORA
Export	BibTeX EP3 XML (ZORA)
Keywords	Income inequality
Additional Information	Auch publiziert als Becker Friedman Institute for Economics Working Paper No. 2023-83 und NBER Working Paper No. 31366 .