EAGER: Finance Sector Income Distribution Dynamics: An Application and Test of Rent Theory

EAGER：金融部门收入分配动态：租金理论的应用和检验

• 批准号: 0956273
• 负责人: Donald Tomaskovic-Devey
• 金额: $ 14.46万
• 依托单位: University of Massachusetts Amherst
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2009
• 资助国家: 美国
• 起止时间: 2009-09-15 至 2012-08-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=0956273&HistoricalAwards=false
• 关键词: EAGER; Finance; Sector; Income; Distribution

EAGER: Finance Sector Income Distribution Dynamics: An Application and Test of Rent TheoryUsing Current Population Survey and National Income and Product Accounts data this project examines the employment and income distribution consequences of finance sector deregulation, the stock market and real estate bubbles of the 2000s, and their subsequent collapse. Theoretically the project approaches the accumulation of income in the finance sector as an example of economic rent creation and the collapse of the financial bubble as a potential moment of rent destruction. Empirically the project examines the distribution of income from this rent accumulation process to owners and employees, and among employees by region, occupation, education, sex and race. Particularly interesting is documenting which industries lose the most as a result of the financial collapse and if there is continuing evidence of post-crisis rents relative to the rest of the economy. The intellectual contribution to the project is to sociological theory of income rents and rent destruction and to document long term income trends in the finance sector. Rent theory has typically been used post hoc to explain wage distributions. The current financial collapse, following increased incomes associated with both the financial and real estate bubbles and long term institutional power in the securities industry, allow a much more dynamic, contextualized and precise set of hypotheses to be examined. The broader impact of the project will be to inform policy discussions of finance sector regulatory reform, tax and income policy.

EIGER：金融部门收入分配动态：租金理论的应用和检验利用当前人口调查和国民收入和产品账户数据，该项目考察了金融部门放松管制、本世纪头十年的股市和房地产泡沫以及随后的泡沫破裂对就业和收入分配的影响。从理论上讲，该项目将金融部门的收入积累作为经济租金创造的一个例子，并将金融泡沫的破裂作为租金破坏的潜在时刻。该项目按地区、职业、教育程度、性别和种族对房东和员工以及员工之间的租金积累过程中的收入分配进行了实证研究。尤其令人感兴趣的是，记录哪些行业在金融崩溃中损失最大，以及是否有持续的证据表明，相对于经济的其他领域，危机后的租金水平仍在上升。对该项目的智力贡献是对收入、租金和租金破坏的社会学理论的贡献，并记录金融部门的长期收入趋势。租金理论通常被用来解释工资分配。当前的金融崩溃，伴随着金融和房地产泡沫带来的收入增加，以及证券行业的长期机构权力，使人们能够检验一套更具活力、更具背景和更精确的假设。该项目的更广泛影响将是为金融部门监管改革、税收和收入政策的政策讨论提供信息。