TY  - BOOK
AU  - Guvenen,Fatih
AU  - Kaplan,Greg
AU  - Song,Jae
ED  - National Bureau of Economic Research.
TI  - How Risky Are Recessions for Top Earners?
T2  - NBER working paper series
PY  - 2014///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - January 2014; Hardcopy version available to institutional subscribers
N2  - How sensitive are the earnings of top earners to business cycles? And, how does the business cycle sensitivity of top earners vary by industry? We use a confidential dataset on earnings histories of US males from the Social Security Administration. On average, individuals in the top 1% of the earnings distribution are slightly more cyclical than the population average. But there are large differences across  sectors: Top earners in Finance, Insurance, and Real Estate (FIRE) and Construction face substantial business cycle volatility, whereas those in Services (who make up 40% of individuals in the top 1 percent) have earnings that are less cyclical than the average worker
UR  - https://www.nber.org/papers/w19864
UR  - http://dx.doi.org/10.3386/w19864
ER  -