In the United States, the income share of the top 5% income group is acyclical over the business cycle. This study attempts to explain the cyclical behavior of the income distribution over the business cycle, particularly focusing on the top 5% income earners' share, using a heterogeneous agent model featuring a choice to become an entrepreneur. The model economy successfully reproduces the acyclical behavior of the income share of the top 5%. During expansions, relatively more people become entrepreneurs at the top, which offsets the decline in the income share of the high‐income earners from workers' side.

中文翻译：

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企业家精神和收入分配动态：为什么在整个业务周期中，收入最高的收入获得者的收入份额是周期性增加的？

在美国，收入最高的5％收入组的收入份额在整个经济周期中都是非周期性的。这项研究试图通过使用选择成为企业家的异类代理模型来解释收入在整个商业周期中的周期性行为，特别是关注收入最高的5％收入者的份额。模式经济成功地再现了收入最高的5％人群的非周期性行为。在扩张过程中，相对更多的人成为了最高层的企业家，这抵消了工人方面高收入者收入份额的下降。