The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares
---- Acknowledgements ----
For helpful comments, we thank the editors Justin Wolfers, David Romer, our discussants Rebecca Blank and Erik Hurst, as well as Jeff Campbell, Xavier Gabaix, Takashi Yamashita and participants at the Fall 2010 Brookings Conference and seminar participants at Kellogg School of Management and the Federal Reserve Banks of Cleveland and Chicago. We thank David Autor and Melanie Wasserman for help with the CPS files. We thank Brian Murphy and Habib Saani of Statistics Canada for help with the Longitudinal Administrative Databank. We thank Jeff Larrimore for providing the data from Berkhauser, Feng, Jenkins and Larrimore (2008, 2010) and Michael Veall for providing data from Saez and Veall (2007) updated to 2007. We thank the Zell Center and Kellogg School of Management for funding. Nicolas Ziebarth provided excellent research assistance. This paper was prepared for the Fall 2010 Brookings Papers on Economic Activity. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.