The US Finance Wage Premium Before and After the Financial Crisis: A Decomposition Exercise

Stella Capuano, Tat-kei Lai, Hans-Jörg Schmerer

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › peer review

Resumé

Does the recent financial crisis change the wage structures of the US finance and nonfinance sectors? In this article, we study the wage gap between workers in these two sectors between 1990 and 2011. Using data from the Current Population Survey, we find that the finance wage premium increased over time and only dropped modestly during the crisis. Using the Oaxaca–Blinder method to decompose the wage gap into ‘explained’ and ‘unexplained’ parts, we also find that the wage gap was entirely driven by unexplained factors.
OriginalsprogEngelsk
TidsskriftApplied Economics Letters
Vol/bind21
Udgave nummer16
Sider (fra-til)1144-1147
ISSN1350-4851
DOI
StatusUdgivet - 2014

Emneord

  • Decomposition
  • Finance wage premium
  • Financial crisis

Citer dette

Capuano, Stella ; Lai, Tat-kei ; Schmerer, Hans-Jörg. / The US Finance Wage Premium Before and After the Financial Crisis : A Decomposition Exercise. I: Applied Economics Letters. 2014 ; Bind 21, Nr. 16. s. 1144-1147.
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Capuano, S, Lai, T & Schmerer, H-J 2014, 'The US Finance Wage Premium Before and After the Financial Crisis: A Decomposition Exercise', Applied Economics Letters, bind 21, nr. 16, s. 1144-1147. https://doi.org/10.1080/13504851.2014.914134

The US Finance Wage Premium Before and After the Financial Crisis : A Decomposition Exercise. / Capuano, Stella; Lai, Tat-kei; Schmerer, Hans-Jörg.

I: Applied Economics Letters, Bind 21, Nr. 16, 2014, s. 1144-1147.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › peer review

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N2 - Does the recent financial crisis change the wage structures of the US finance and nonfinance sectors? In this article, we study the wage gap between workers in these two sectors between 1990 and 2011. Using data from the Current Population Survey, we find that the finance wage premium increased over time and only dropped modestly during the crisis. Using the Oaxaca–Blinder method to decompose the wage gap into ‘explained’ and ‘unexplained’ parts, we also find that the wage gap was entirely driven by unexplained factors.

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Capuano S, Lai T, Schmerer H-J. The US Finance Wage Premium Before and After the Financial Crisis: A Decomposition Exercise. Applied Economics Letters. 2014;21(16):1144-1147. https://doi.org/10.1080/13504851.2014.914134

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