Capital and Labor: The Factor Income Composition of Top Incomes in the United States, 1962–2006

Anthony Atkinson sadly passed away in January 2017 before the new version of the paper was finalized. This paper would not exist without his contributions. Subsequent revisions were carried out by C. Lakner, who is responsible for any errors. This paper has been developed from one of the chapters of C. Lakner's DPhil thesis.

Emmanuel Saez participated in the first stages of this project, and we thank him for his assistance with the U.S. data. We also thank David Splinter, Gabriel Zucman, and Eric Zwick for answering questions about their data and papers. We thank the editor, Brigitte Madrian, and four anonymous referees, whose comments helped us improve the paper substantially. We are grateful to seminar participants at the Oxford INET, the World Bank, and the ECINEQ and LIS conferences, and to Rolf Aaberge, François Bourguignon, Francisco Ferreira, La-Bhus Fah Jirasavetakul, Stephan Klasen, Sebastian Königs, Branko Milanovic, Bob Rijkers, Tim Smeeding, Francis Teal, and Adrian Wood for discussions and comments on earlier versions. C.L. gratefully acknowledges financial support from the Economic and Social Research Council (grant ES/G011974/1), the Studienstiftung des deutschen Volkes, the Institute for New Economic Thinking (INET) at the Oxford Martin School, and the Center for Equitable Growth at UC Berkeley. The findings, interpretations, and conclusions expressed in this paper are entirely our own. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations or those of the executive directors of the World Bank or the governments they represent.

A supplemental appendix is available online at https://doi.org/10.1162/rest_a_01063.