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Godechot, Olivier, Nils Neumann et al., 2023, « Ups and downs in finance, ups without downs in inequality », Socio-Economic Review, vol. 21, n°3, 1601–1627. 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 twelve 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. |
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![]() OgO: plus ici|more here [Introduction to sociology] Syllabus and compulsory readings Syllabus et lectures obligatoires Olivier Godechot 2024-2025 In addition to the readings that you will study ...: plus ici|more here [Sociology of Inequalities] Master of sociology, M1, Fall 2024 Fridays 8:00-10:00 Room 402 - 56 rue des Saints Pères Olivier Godechot and Lidia Panico ...: plus ici|more here [Causal methods in sociology] 10:15-12:15 on Tuesdays 18 hours from September 3rd to November 5th 2024 Room C.S21 - Campus Saint-Thomas This course is a non-technical ...: plus ici|more here [R] Quelques fonctions utiles pour R Je construis parfois des petites fonctions qui peuvent être utiles. ## Improved summary function, with ...: plus ici|more here [Introduction to sociology] 2023-2024: plus ici|more here [Sociology of Inequalities] 2023-2024: plus ici|more here [Causal methods in sociology] 2023-2024: plus ici|more here [Enseignements] Statistiques: plus ici|more here [Publications] Godechot, Olivier et Elif Bulut, Les fissures de la digue républicaine, La vie des idées: plus ici|more here Tweets (rarely/rarement): @OlivierGodechot |
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