NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Accounting for Factorless Income

Loukas Karabarbounis, Brent Neiman

NBER Working Paper No. 24404
Issued in March 2018, Revised in June 2018

---- Acknowledgments ----

We thank Anhua Chen for providing exceptional research assistance and Andy Atkeson, Emmanuel Farhi, Oleg Itskhoki, Greg Kaplan, Casey Mulligan, Richard Rogerson, Matt Rognlie, and Bob Topel for helpful comments. We gratefully acknowledge the support of the National Science Foundation. Karabarbounis thanks the Alfred P. Sloan Foundation and Neiman thanks the Becker Friedman Institute at the University of Chicago for generous financial support. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis, the Federal Reserve System, or the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Loukas Karabarbounis ----

Loukas Karabarbounis is a research consultant at the Federal Reserve Bank of Minneapolis. No person or institution with which he is affiliated has control over his research activities. The views expressed in his research are those of the author and not necessarily those of the Federal Reserve Bank of Minneapolis or the Federal Reserve System

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