The length of the document below is: 57 page(s) long
The self-declared author(s) is/are:
Author: The quarterly journal of economics
The subject is as follows:
Subject: Original authors did not specify.
The original URL is: LINK
The access date was:
Access date: 2019-04-12 17:12:51.813002
Please be aware that this may be under copyright restrictions. Please send an email to admin@pharmacoengineering.com for any AI-generated issues.
Loading...
Reload document 
Open in new tab The content is as follows:
THE
QUARTERLYJOURNAL
OFECONOMICS
Vol.133May2018Issue2
DISTRIBUTIONALNATIONALACCOUNTS:METHODSAND
ESTIMATESFORTHEUNITEDSTATES
T
HOMAS
P
IKETTY
E
MMANUEL
S
AEZ
G
ABRIEL
Z
UCMAN
Thisarticlecombinestax,survey,andnationalaccountsdatatoestimatethe
distributionofnationalincomeintheUnitedStatessince1913.Ourdistributional
nationalaccountscapture100%ofnationalincome,allowingustocomputegrowth
ratesforeachquantileoftheincomedistributionconsistentwithmacroeconomic
growth.Weestimatethedistributionofbothpretaxandposttaxincome,making
itpossibletoprovideacomprehensiveviewofhowgovernmentredistribution
affectsinequality.Averagepretaxrealnationalincomeperadulthasincreased
60%from1980to2014,butweÞndthatithasstagnatedforthebottom50%ofthe
distributionatabout$16,000ayear.ThepretaxincomeofthemiddleclassÑadults
betweenthemedianandthe90thpercentileÑhasgrown40%since1980,faster
thanwhattaxandsurveydatasuggest,dueinparticulartotheriseoftax-exempt
fringebeneÞts.Incomehasboomedatthetop.TheupsurgeoftopincomeswasÞrst
alaborincomephenomenonbuthasmostlybeenacapitalincomephenomenon
Wethanktheeditors,LawrenceKatzandAndreiShleifer;fouranony-
mousreferees;FacundoAlvaredo,TonyAtkinson,GeraldAuten,LucasChancel,
PatrickDriessen,OdedGalor,DavidJohnson,ArthurKennickell,NoraLustig,
Jean-LaurentRosenthal,JohnSabelhaus,DavidSplinter,andDannyYagan;and
numerousseminarandconferenceparticipantsforhelpfuldiscussionsandcom-
ments.AntoineArnoud,KavehDanesh,SamKarlin,JulianaLondo
÷
no-V
«
elez,and
CarlMcPhersonprovidedoutstandingresearchassistance.WeacknowledgeÞnan-
cialsupportfromtheCenterforEquitableGrowthatUCBerkeley,theInstitute
forNewEconomicThinking,theLauraandJohnArnoldfoundation,NSFgrants
SES-1156240andSES-1559014,theRussellSagefoundation,theSandlerfoun-
dation,andtheEuropeanResearchCouncilundertheEuropeanUnionÕsSeventh
FrameworkProgramme,ERCGrantAgreementNo.340831.
C
TheAuthor(s)2017.PublishedbyOxfordUniversityPressonbehalfofthePresi-
dentandFellowsofHarvardCollege.Allrightsreserved.ForPermissions,pleaseemail:
TheQuarterlyJournalofEconomics
(2018),553Ð609.doi:10.1093/qje/qjx043.
AdvanceAccesspublicationonOctober10,2017.
553
Please note all content on this page was automatically generated via our AI-based algorithm (BishopKingdom ID: 0K8stPMAHwQxsUjGXTvu). Please let us know if you find any errors.