Zvolte jazyk

  • Úvod
  • Publikace
  • Ups and downs in finance, ups without downs in inequality

Olivier Godechot, Nils Neumann, Paula Apascaritei, István Boza, Martin Hallsten, Lasse Henriksen, Are Hermansen, Feng Hou, Jiwook Jung, Naomi Kodama, Alena Křížková, Zoltán Lippényi, Elvira Marta, Silvia Maja Melzer, Eunmi Mun, Halil Sabanci, Matthew Soener, Max Thaning. 2023. „Ups and downs in finance, ups without downs in inequality“. Socio-Economic Review. 21(3):1601-1627. Dostupné z: https://doi.org/10.1093/ser/mwac036

The upswing in finance in recent decades has led to rising inequality, but do downswings in finance lead to a symmetric decline in inequality? We analyze the asymmetry of the effect of ups and downs in finance, and the effect of increased capital requirements and the bonus cap on national earnings inequality. We use administrative employer–employee-linked data from 1990 to 2019 for 12 countries and data from bank reports, from 2009 to 2017 in 13 European countries. We find a strong asymmetry in the effect of upswings and downswings in finance on earnings inequality, a weak, if any, mitigating effect of capital requirements on finance’s contribution to inequality, and a restructuring but no absolute effect of the bonus cap on financiers’ earnings. We suggest that while rising financiers’ wages increase inequality in upswings, they are resilient in downswings and thus downswings do not contribute to a symmetric decline in inequality.

Autoři

Oddělení

Témata

Ekonomie, Elity, Gender, Mzdy a příjmy, Sociální nerovnosti

Projekt

Národní institut pro výzkum socioekonomických dopadů nemocí a systémových rizik (SYRI)

Newsletter

Pokud máte zájem o newsletter s novinkami našeho ústavu, zanechte nám váš e-mail. Odesláním formuláře vyjadřujete souhlas se zpracováním osobních údajů.

Bluesky

Nově nás naleznete také na Bluesky.