Date: 20 November 2020, Friday
\nTime: 13:40-14:40<\/p>\n
“The Finance Wage Premium: The Dutch Case”
\nby
\nAta Can Bertay<\/p>\n
Abstract: We use a massive matched employer-employee database to identify the financial wage premium in the Netherlands. Using this data, we start by documenting the
\nevolution of the finance industry over the period 2006-2018. Perhaps surprisingly, we
\nshow that the excessive wage in the finance industry steadily increased over the sample
\nperiod despite the Global Financial Crisis and the European Debt Crisis. Consistent
\nwith the substitution of capital for unskilled labor to exploit technical change, we
\nalso observe that the supply of high-skilled workers and the capital associated with
\ninformation and computer technologies (ICT) increased rapidly over the period 2006-
\n2018. Guided by these facts, we study if the finance wage premium is explained by
\nICT capital-skill complementary at industry level when controlling by the observed
\nand unobserved worker and firm characteristics. Contrary to a long literature documenting
\nan excessive and unexplained wage premium in the finance industry, we
\nfind that the finance wage premium is -3%.<\/p>\n","protected":false},"excerpt":{"rendered":"
Date: 20 November 2020, Friday Time: 13:40-14:40 “The Finance Wage Premium: The Dutch Case” by Ata Can Bertay Abstract: We use a massive matched employer-employee database to identify the financial wage premium in the Netherlands. Using this data, we start by documenting the evolution of the finance industry over the [\u2026] <\/p>\n