Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/247780 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
MaxPo Discussion Paper No. 21/2
Verlag: 
Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo), Paris
Zusammenfassung: 
The upswing in finance over the past several decades has led to rising inequality, but do downswings in finance lead to a symmetric decline in inequality? In this paper, we analyze the asymmetry of the effect of ups and downs in financial markets, as well as the effect of increased capital requirements and the bonus cap on national earnings inequality. We use administrative employer-employee linked data on earnings from 1990 to 2017 for twelve countries. Additionally, we use data on earnings from bank reports, from 2009 to 2017 in thirteen European countries. We find a strong asymmetry in the effects of financial ups and downs on earnings inequality, a mitigating effect of rising capital requirements on the contribution of finance to inequality, and a restructuring effect of the bonus cap for the earnings of financiers, while neither policy affects absolute levels of earnings inequality.
Schlagwörter: 
inequality
finance
financial crisis
regulation
JEL: 
N2
D31
G38
Dokumentart: 
Working Paper

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