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Immigration and the top 1 percent
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Advani, Arun, Koenig, Felix, Pessina, Lorenzo and Summers, Andy (2024) Immigration and the top 1 percent. Review of Economics and Statistics . doi:10.1162/rest_a_01408 ISSN 0034-6535. (In Press)
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Official URL: https://doi.org/10.1162/rest_a_01408
Abstract
Using administrative data on the universe of UK taxpayers, we study the contribution of migrants to the rise in UK top incomes. We show migrants are over-represented at the top of the income distribution, with migrants twice as prevalent in the top 0.01% as anywhere in the bottom 97% of taxpayers. These high incomes are predominantly from labour, rather than capital, and migrants are concentrated in only a handful of industries, predominantly finance. All of the observed growth in the UK top 1% income share over the past 20 years has accrued to migrants.
Item Type: | Journal Article | ||||||||||||
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Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HJ Public Finance |
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Divisions: | Faculty of Social Sciences > Economics | ||||||||||||
Library of Congress Subject Headings (LCSH): | Immigrants -- Great Britain -- Economic aspects, Taxpayers -- Great Britain, Income distribution -- Great Britain | ||||||||||||
Journal or Publication Title: | Review of Economics and Statistics | ||||||||||||
Publisher: | MIT Press | ||||||||||||
ISSN: | 0034-6535 | ||||||||||||
Official Date: | 9 February 2024 | ||||||||||||
Dates: |
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DOI: | 10.1162/rest_a_01408 | ||||||||||||
Status: | Peer Reviewed | ||||||||||||
Publication Status: | In Press | ||||||||||||
Re-use Statement: | This is the author’s final version, and that the article has been accepted for publication in Review of Economics and Statistics. | ||||||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||||||
Date of first compliant deposit: | 18 April 2023 | ||||||||||||
Date of first compliant Open Access: | 19 April 2023 | ||||||||||||
RIOXX Funder/Project Grant: |
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