The Bankwatch

Tracking the consumer evolution of financial services

Bank wages and regulation are inter-related

This paper reviews financial services over the past century, and concludes that banking wages are generally less as an industry during periods of increased regulation.

Cutting back financial capitalism is America’s big test | FT

In recent research, Thomas Philippon of New York University’s Stern School of Business and Ariell Reshef of the University of Virginia conclude that the financial sector was a high-skill, high-wage industry between 1909 and 1933. It then went into relative decline until 1980, whereupon it again started to be a high-skill, high-wage sector.* They conclude that the prime cause was deregulation, which “unleashes creativity and innovation and increases demand for skilled workers”.

Written by Colin Henderson

April 14, 2009 at 22:50

Posted in Uncategorized

Tagged with , ,

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