The Spillover Effects of Top Income Inequality

We are deeply indebted to Jeffrey Clemens for his major role collaborating with us on earlier versions of this paper. Morten Olsen gratefully acknowledges the financial support of the European Commission under the Marie Curie Research Fellowship program (Grant Agreement PCIG11-GA-2012-321693) and the Spanish Ministry of Economy and Competitiveness (Project ref: ECO2012-38134). Gottlieb gratefully acknowledges support from the Becker-Friedman Institute, the Upjohn Institute for Employment Research, and SSHRC. David Hémous gratefully acknowledges support from the University Research Priority Program “URPP Equality of Opportunity” of the University of Zurich. Any views expressed are those of the authors and not those of the U.S. Census Bureau. The Census Bureau's Disclosure Review Board and Disclosure Avoidance Officers have reviewed this information product for unauthorized disclosure of confidential information and have approved the disclosure avoidance practices applied to this release. This research was performed at a Federal Statistical Research Data Center under FSRDC Project Number 1756 (releases CBDRB-FY22-P1756-R9679 and CBDRB-FY22-P1756-R9845). We are grateful to Frank Limehouse, Daniel Polsky, Michael Levin, Leemore Dafny, CIVHC, and the staff at the Chicago Federal Statistical Research Data Center for their generosity in sharing data and facilitating data access. We thank Kenta Baron-Furuyama, Oscar Chan, Innessa Colaiacovo, Erin May, Hugh Shiplett, Emilie Vestergaard and Andrew Vogt for outstanding research assistance. Finally, we thank Paul Beaudry, Roland Bénabou, Marianne Bertrand, Austin Goolsbee, David Green, Neale Mahoney, Stefanie Stantcheva, Joachim Voth and numerous seminar participants for valuable comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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