In the present paper we confront standard wage processes used in the quantitative literature on the optimal tax progressivity and a process with heterogeneous life-cycle profiles that we propose against the data. We find that the former fail to capture several features of the earnings dynamics at the very top of the distribution while our proposed model improves along some of these dimensions.
Top Earners: a Labor Productivity Process
Claudio Campanale
2022-01-01
Abstract
In the present paper we confront standard wage processes used in the quantitative literature on the optimal tax progressivity and a process with heterogeneous life-cycle profiles that we propose against the data. We find that the former fail to capture several features of the earnings dynamics at the very top of the distribution while our proposed model improves along some of these dimensions.
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