Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266141 
Year of Publication: 
2022
Series/Report no.: 
SAFE Working Paper No. 361
Publisher: 
Leibniz Institute for Financial Research SAFE, Frankfurt a. M.
Abstract: 
This paper utilizes a comprehensive worker-firm panel for the Netherlands to quantify the impact of ICT capital-skill complementarity on the finance wage premium after the Global Financial Crisis. We apply additive worker and firm fixed-effect models to account for unobserved worker- and firm-heterogeneity and show that firm fixed-effects correct for a downward bias in the estimated finance wage premium. Our results indicate a sizable finance wage premium for both fixed- and full-hourly wages. The complementarity between ICT capital spending and the share of high skill workers at the firm-level reduces the full-wage premium considerably and the fixed-wage premium almost entirely.
Subjects: 
finance wage premium
worker-firm panels
skill-biased technological change
JEL: 
G20
J24
J31
O33
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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