Philippon, Thomas; Reshef, Ariell - In: The Quarterly Journal of Economics 127 (2012) 4, pp. 1551-1609
We study the allocation and compensation of human capital in the U.S. finance industry over the past century. Across time, space, and subsectors, we find that financial deregulation is associated with skill intensity, job complexity, and high wages for finance employees. All three measures are...