EconPapers    
Economics at your fingertips  
 

Innovation and Top Income Inequality

Philippe Aghion, Ufuk Akcigit (), Antonin Bergeaud (), Richard Blundell () and David Hemous

Review of Economic Studies, 2019, vol. 86, issue 1, 1-45

Abstract: In this article, we use cross-state panel and cross-U.S. commuting-zone data to look at the relationship between innovation, top income inequality and social mobility. We find positive correlations between measures of innovation and top income inequality. We also show that the correlations between innovation and broad measures of inequality are not significant. Next, using instrumental variable analysis, we argue that these correlations at least partly reflect a causality from innovation to top income shares. Finally, we show that innovation, particularly by new entrants, is positively associated with social mobility, but less so in local areas with more intense lobbying activities.

Keywords: Top Income; Inequality; Innovation; Patenting; Citations; Social Mobility; Incumbents; Entrant (search for similar items in EconPapers)
JEL-codes: O30 O31 O33 O34 O40 O43 O47 D63 J14 J15 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1093/restud/rdy027 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Innovation and Top Income Inequality (2018)
Working Paper: Innovation and Top Income Inequality (2015) Downloads
Working Paper: Innovation and Top Income Inequality (2015) Downloads
Working Paper: Innovation and Top Income Inequality (2015) Downloads
Working Paper: Innovation and Top Income Inequality (2015) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:86:y:2019:i:1:p:1-45.

Access Statistics for this article

Review of Economic Studies is currently edited by Andrea Prat, Bruno Biais, Kjetil Storesletten and Enrique Sentana

More articles in Review of Economic Studies from Oxford University Press
Bibliographic data for series maintained by Oxford University Press (). This e-mail address is bad, please contact .

 
Page updated 2019-09-18
Handle: RePEc:oup:restud:v:86:y:2019:i:1:p:1-45.