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The Journal of The Journal of Economic Perspectives Economic Perspectives The Journal of Fall 2020, Volume 34, Number 4 Economic Perspectives Symposia How Much Income and Wealth Inequality? Emmanuel Saez and Gabriel Zucman, “The Rise of Income and Wealth Inequality in America: Evidence from Distributional Macroeconomic Accounts” Wojciech Kopczuk and Eric Zwick, “Business Incomes at the Top” Florian Hoffmann, David S. Lee, and Thomas Lemieux, “Growing Income Inequality in the United States and Other Advanced Economies” Economics and Epidemiology Christopher Avery, William Bossert, Adam Clark, Glenn Ellison, and Sara Fisher Ellison, “An Economist’s Guide to Epidemiology Models of Infectious Disease” A journal of the Eleanor J. Murray, “Epidemiology’s Time of Need: COVID-19 Calls for Epidemic- American Economic Association Related Economics” Articles 34, Number 4 Fall 2020 Volume Frank J. Fabozzi, Robert J. Shiller, and Radu S. Tunaru, “A 30-Year Perspective on Property Derivatives: What Can Be Done to Tame Property Price Risk?” Amy Finkelstein and Nathaniel Hendren, “Welfare Analysis Meets Causal Inference” Till von Wachter, “The Persistent Effects of Initial Labor Market Conditions for Young Adults and Their Sources” Features John Berdell and Thomas Mondschean, “Retrospectives: Regulating Banks versus Managing Liquidity: Jeremy Bentham and Henry Thornton in 1802” Timothy Taylor, “Recommendations for Further Reading” Fall 2020 The American Economic Association The Journal of Correspondence relating to advertising, busi- Founded in 1885 ness matters, permission to quote, or change Economic Perspectives of address should be sent to the AEA business EXECUTIVE COMMITTEE office: [email protected]. Street ad- dress: American Economic Association, 2014 Elected Officers and Members A journal of the American Economic Association Broadway, Suite 305, Nashville, TN 37203. For membership, subscriptions, or complimentary President access to JEP articles, go to the AEA website: JANET L. YELLEN, The Brookings Institution Editor http://www.aeaweb.org. Annual dues for regu- lar membership are $24.00, $34.00, or $44.00, President-elect Enrico Moretti, University of California, Berkeley depending on income; for an additional fee, you can receive this journal, or any of the Associa- DAVID CARD, University of California, Berkeley tion’s journals, in print. Change of address no- Vice Presidents Coeditors tice must be received at least six weeks prior to Gordon Hanson, Harvard University the publication month. JANICE EBERLY, Northwestern University OLIVIA S. MITCHELL, University of Pennsylvania Heidi Williams, Stanford University Copyright © 2020 by the American Eco nomic Association. 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Annual dues for regular membership are $24.00, $34.00, ADMINISTRATORS or $44.00 depending on income; for an additional $15.00, you can receive this journal in print. The journal is freely available online. For details and further information on the AEA go to https://www.aeaweb.org/. Director of Finance and Administration Periodicals postage paid at Nashville, TN, and at additional mailing offices. BARBARA H. FISER POSTMASTER: Send address changes to the Journal of Economic Perspectives, 2014 Broadway, Suite 305, Convention Manager Nashville, TN 37203. Printed in the U.S.A. GWYN LOFTIS The Journal of Economic Perspectives Contents Volume 34 • Number 4 • Fall 2020 Symposia How Much Income and Wealth Inequality? Emmanuel Saez and Gabriel Zucman, “The Rise of Income and Wealth Inequality in America: Evidence from Distributional Macroeconomic Accounts” . 3 Wojciech Kopczuk and Eric Zwick, “Business Incomes at the Top” . 27 Florian Hoffmann, David S . Lee, and Thomas Lemieux, “Growing Income Inequality in the United States and Other Advanced Economies” . 52 Economics and Epidemiology Christopher Avery, William Bossert, Adam Clark, Glenn Ellison, and Sara Fisher Ellison, “An Economist’s Guide to Epidemiology Models of Infectious Disease” . 79 Eleanor J . Murray, “Epidemiology’s Time of Need: COVID-19 Calls for Epidemic-Related Economics” . 105 Articles Frank J . Fabozzi, Robert J . Shiller, and Radu S . Tunaru, “A 30-Year Perspective on Property Derivatives: What Can Be Done to
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