A Schumpeterian Model of Top Income Inequality
研究了美国顶层收入不平等在过去40年急剧上升而法国和日本仅小幅增加的原因，通过一个包含异质企业家和创造性破坏的模型来解释不同经济力量对顶层收入分布的影响。
Top income inequality rose sharply in the United States over the last 40 years but increased only slightly in France and Japan. Why? We explore a model in which heterogeneous entrepreneurs, broadly interpreted, exert effort to generate exponential growth in their incomes, which tends to raise inequality. Creative destruction by outside innovators restrains this expansion and induces top incomes to obey a Pareto distribution. Economic forces that affect these two mechanisms—including information technology, taxes, and policies related to innovation blocking—may explain the varied patterns of top income inequality that we see in the data.