Immigration and the top 1 percent

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URL:	https://ftp.zew.de/pub/zew-docs/dp/dp22061.pdf
URN:	urn:nbn:de:bsz:180-madoc-638619
Document Type:	Working paper
Year of publication:	2022
The title of a journal, publication series:	ZEW Discussion Papers
Volume:	22-061
Place of publication:	Mannheim
Publication language:	English
Institution:	Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series:	Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject:	330 Economics
Abstract:	We study the contribution of migrants to the rise in UK top incomes. Using administrative data on the universe of UK taxpayers, 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%. These high incomes are predominantly from labour, rather than capital, and migrants are concentrated in only a handful of industries, predominantly finance. Almost all (90%) of the observed growth in the UK top 1% income.