The Determinants of the Very Highest Income Shares: The Case of France
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Since the highest income groups have tremendous influence over economic policy by virtue of money, position, and connection, it is important to identify the interest of these groups with regard to economic conditions. Recently, annual time series data on the shares of the very highest income groups have become available for the French economy. Using this new high-income share data for France, this paper examines the potential relationship between the income shares of the very highest income groups and four macroeconomic variables including the inflation rate, the interest rate, the unemployment rate, and the extent of trade. To be specific, this paper investigates the extent to which the four macroeconomic variables affect the highest income shares. The results indicate that the inflation rate, the interest rate, the unemployment rate, and the extent of trade are important determinants of the top most income shares in France.