一个有风险的企业:传递式企业主的收入动态

IF 6.3 1区经济学 Q1 ECONOMICS

American Economic Journal-Macroeconomics Pub Date : 2023-01-01 DOI:10.1257/mac.20200134

Jason Debacker, Vasia Panousi, Shanthi P. Ramnath

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引用次数: 2

摘要

我们采用了1987-2018年期间的大量美国所得税申报表，以广泛表征和量化企业收入风险。我们的研究结果表明，企业收入的风险要比劳动收入高得多。营业收入持续性较差，其特点是尾部风险较高。此外，与劳动收入相比，家庭间的异质性在解释营业收入的横截面变化时不那么重要，而家庭内的收入变化更重要。我们的研究结果强调了企业主面临的收入风险，并为定量宏观经济模型和政策分析提供了有用的程式化事实和参数估计。(jj 31, g51, h24, j23, j31, k34, l26)

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A Risky Venture: Income Dynamics among Pass-Through Business Owners

We employ a large panel of US income tax returns for the period 1987–2018 to extensively characterize and quantify business income risk. Our findings show business income to be much riskier than labor income. Business income is less persistent and is characterized by higher tail risk. Furthermore, when compared to labor income, heterogeneity across households is less important in explaining the cross-sectional variation in business income, and within-household income variation is more important. Our results underscore the income risks business owners face and provide stylized facts and parameter estimates useful for quantitative macroeconomic models and policy analysis. (JEL D31, G51, H24, J23, J31, K34, L26)

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来源期刊

American Economic Journal-Macroeconomics ECONOMICS-

CiteScore

8.20

自引率

1.70%

发文量

期刊介绍： American Economic Journal: Macroeconomics focuses on studies of aggregate fluctuations and growth, and the role of policy in that context. Such studies often borrow from and interact with research in other fields, such as monetary theory, industrial organization, finance, labor economics, political economy, public finance, international economics, and development economics. To the extent that they make a contribution to macroeconomics, papers in these fields are also welcome.