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September 21, 2014

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Posted: 21 Sep 2014 12:06 AM PDT

Finance Sector Wages: Explaining Their High Level and Growth

Posted: 20 Sep 2014 08:18 PM PDT

Joanne Lindley and Steven McIntosh:

Finance sector wages: explaining their high level and growth, by Joanne Lindley and Steven, Vox EU: Individuals who work in the finance sector enjoy a significant wage advantage. This column considers three explanations: rent sharing, skill intensity, and task-biased technological change. The UK evidence suggests that rent sharing is the key. The rising premium could then be due to changes in regulation and the increasing complexity of financial products creating more asymmetric information. ...

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