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<p>American income inequality in the twentieth century, often analyzed using tax data, is known to have followed a U-curve. However, discussions about the curve’s peaks and troughs continue, focusing on income definitions and deduction handling. A less explored aspect is the interpolation methods used with tabular data from tax authorities, crucial for estimating the wealthiest centiles’ income from 1917 to 1965. In this paper, we introduce an alternative to Pareto interpolation–maximum entropy (ME), which provides more accurate results and significantly revises the perceived shape of the U-curve, influencing modern policy debates on inequality.</p>

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Pareto’s limits: improving inequality estimates in America, 1917–1965

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2025年8月1日

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  • Vincent J. Geloso,
  • Alexis Akira Toda

摘要

American income inequality in the twentieth century, often analyzed using tax data, is known to have followed a U-curve. However, discussions about the curve’s peaks and troughs continue, focusing on income definitions and deduction handling. A less explored aspect is the interpolation methods used with tabular data from tax authorities, crucial for estimating the wealthiest centiles’ income from 1917 to 1965. In this paper, we introduce an alternative to Pareto interpolation–maximum entropy (ME), which provides more accurate results and significantly revises the perceived shape of the U-curve, influencing modern policy debates on inequality.