Asset bubbles in explaining top income shares

Saikat Sarkar and Matti Tuomala

No 1821, Working Papers from Tampere University, Faculty of Management and Business, Economics

Abstract: Our empirical analysis provides support for the view that asset-bubbles togetherwith economic fundamentals such as caused by increases in innovation-led growth are an important part of story in explaining increasing top income inequality. Moreover, top tax rates have played an important role. At the same time with large growth in top income shares over the past few decades, top tax rates on upper income earners have declined signiÖcantly in many advanced countries

Keywords: top income shares; bubbles and crashes; innovations; top tax rates (search for similar items in EconPapers)
Pages: 25 pages
Date: 2018-05
New Economics Papers: this item is included in nep-ure
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http://urn.fi/URN:ISBN:978-952-03-0784-4 First version, 2018 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:tam:wpaper:1821

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