Bankers and Their Bonuses

• 成果类型: Article
• 署名作者: Bell, Brian; Van Reenen, John
• 署名单位: University of Oxford; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; National Bureau of Economic Research
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12101
• 发表日期: 2014
• 页码: F1-F21
• 关键词: pay; INEQUALITY; incomes; top

摘要

We analyse the role of financial sector workers in the huge rise of the share of earnings going to those at the very top of the pay distribution in the UK. Rising bankers' bonuses accounted for two-thirds of the increase in the share of the top 1% after 1999. Surprisingly, bankers' share of earnings showed no decline between the peak of the financial boom in 2007 and 2011, three years after the global crisis began. Nor did bankers' relative employment position deteriorate over this period. We discuss proposed policy responses such as transparency, bonus 'clawbacks', numerical bonus targets and tax.