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

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，本项目考察了金融部门放松管制、2000年代的股市和房地产泡沫及其随后的崩溃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，并将金融泡沫的崩溃作为租金破坏的潜在时刻。从经验上看，该项目考察了租金积累过程对业主和雇员的收入分配，以及按地区、职业、教育程度、性别和种族划分的雇员之间的收入分配。特别有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危机后的租金相对于其他经济领域。对该项目的智力贡献是收入租金和租金破坏的社会学理论，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，伴随着与金融和房地产泡沫以及证券行业长期机构权力相关的收入增加，允许对一组更动态、更情境化和更精确的假设进行检验。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。

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.