Monetary Growth and Financial Sector Wages

Michael Curran () and Matthew Fagerstrom ()
Additional contact information
Matthew Fagerstrom: Department of Economics, Villanova School of Business, Villanova University, https://www.linkedin.com/in/matthew-fagerstrom-733114121

No 41, Villanova School of Business Department of Economics and Statistics Working Paper Series from Villanova School of Business Department of Economics and Statistics

Abstract: We investigate the relation between monetary growth and the growth of and compensation in the financial industry since the end of the Bretton Woods system. Estimating structural vector autoregressions, we find that the growth of the monetary base is positively associated with a higher differential between financial and average wages, but not with a larger financial industry. [See Working Paper #55 for the 2022 version of this paper.]

Keywords: Cantillon Effect; Inequality; Money Non-neutrality; Financial Industry (search for similar items in EconPapers)
JEL-codes: D31 E31 E52 (search for similar items in EconPapers)
Date: 2019-08
New Economics Papers: this item is included in nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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http://repec.library.villanova.edu/workingpapers/VSBEcon41.pdf (application/pdf)

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Working Paper: Monetary Growth and Financial Sector Wages (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:vil:papers:41

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