Ups and downs in finance, ups without downs in inequality
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68378025%3A_____%2F23%3A00559547" target="_blank" >RIV/68378025:_____/23:00559547 - isvavai.cz</a>
Result on the web
<a href="https://academic.oup.com/ser/advance-article/doi/10.1093/ser/mwac036/6644998" target="_blank" >https://academic.oup.com/ser/advance-article/doi/10.1093/ser/mwac036/6644998</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1093/ser/mwac036" target="_blank" >10.1093/ser/mwac036</a>
Alternative languages
Result language
angličtina
Original language name
Ups and downs in finance, ups without downs in inequality
Original language description
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.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50401 - Sociology
Result continuities
Project
<a href="/en/project/LX22NPO5101" target="_blank" >LX22NPO5101: The National Institute for Research on the Socioeconomic Impact of Diseases and Systemic Risks</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Socio-Economic Review
ISSN
1475-1461
e-ISSN
1475-147X
Volume of the periodical
21
Issue of the periodical within the volume
3
Country of publishing house
GB - UNITED KINGDOM
Number of pages
27
Pages from-to
1601-1627
UT code for WoS article
000826569800001
EID of the result in the Scopus database
2-s2.0-85168115314