Wages and Human Capital in the U.S. Finance Industry: 1909--2006

By Thomas Philippon, Ariell Reshef. 2012

516 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7dce9da74c625b00f828aa954ba97e72a5c0dfd9

Citations in the corpus

• Innovation and Top Income Inequality (2018, unknown): “Second, to a significant extent, top income share groups likely include individuals employed by the financial sector (see, for example, Philippon and Reshef, 2012, or Bell and Van Reenen, 2014).”
• The FinTech Opportunity (2016, unknown): “This measure does not control for changes in the composition of the labor force within a sector (see Philippon and Reshef (2012) for micro evidence on this issue).”
• Inequality and Labor Market Institutions (2015, unknown): “Among these, financial deregulation and the decline in top marginal personal income tax rates are often cited as important contributors to the rise of inequality (Philippon and Reshef, 2012, 2013; Piketty, Saez, and Stantcheva, 2014).”
• Reassessing the Impact of Finance on Growth (2012, unknown): “10 Philippon and Reshef (2009) provide empirical evidence that, over the past 30 years, the US banking industry has become relatively skilled-labour-intensive.”
• The Rise of American Ingenuity: Innovation and Inventors of the Golden Age (2017, unknown): “For example, Philippon and Reshef (2012) show that between 1909 and 1933 skill-based wage-compensation in finance was high.”
• Bankers and Their Bonuses (2014, unknown): “Second, Philippon and Reshef (2012) argue that the wave of 3 In the Annual Survey of Hours and Earnings (ASHE) data that we use in Section 1, bonuses are defined as all payments made in cash during the year including profit sharing, productivity performance and other bonus or incentive pay,…”
• Unpacking the inequality paradox: The psychological roots of inequality and social class. (2018, unknown): “…detailing the role played by self-interest and greed on the part of upper-class individuals in fueling economic inequality, particularly in the corporate and financial sectors (e.g., Ahamed, 2009; Faber, 2009; Farrell, 2011; McDonald & Robinson, 2009; Philippon & Reshef, 2012; Smith, 2012).”
• The Employment Relationship and Inequality: How and Why Changes in Employment Practices are Reshaping Rewards in Organizations (2013, unknown): “Much research has explored the relative roles of influences on inequality such as technological change (Autor, Levy, & Murnane, 2003), union decline (Card, 2001), global competition (Freeman, 1995), and financial deregulation (Phillipon & Resheff, 2012).”
• Brain drain: The impact of air pollution on firm performance (2020, unknown): “…on the determinant of human capital focus on economic factors such as local wages and land rents (Rauch, 1993), organizational change (Bresnahan et al., 2002), financial deregulation (Philippon and Reshef, 2012), and local productivity change (Diamond, 2016), and mainly rely on regional analyses.”
• Bonus Culture: Competitive Pay, Screening, and Multitasking (2016, unknown): “In particular, private returns in the finance industry are often argued to exceed social returns ðBaumol 1990; Philippon and Reshef 2012Þ.”