Financialization, the Great Recession, and the Stratification of the US Labor Market
This contribution explores the possibility that the financialization of the US economy has created identity preference effects by linking managerial and financial occupations to high earnings, and in turn high earnings to the social status of the dominant demographic group in the labor force, namely white men. The empirical results for the 1983--2009 period confirm that a wage premium exists for individuals working in managerial and financial occupations, and that this finance wage premium is not equally distributed among all gender and ethnic groups. For each ethnic group, men have taken an increasing share of the finance wage premium at the expense of women. More specifically, white -- and, to a lesser degree, Hispanic -- men have enjoyed a disproportionate share of the finance wage premium. Financialization has thus been neither race nor gender neutral, and is at least in part responsible for the stratification effects of the Great Recession.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 19 (2013)
Issue (Month): 3 (July)
|Contact details of provider:|| Web page: http://www.tandfonline.com/RFEC20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RFEC20|
When requesting a correction, please mention this item's handle: RePEc:taf:femeco:v:19:y:2013:i:3:p:152-180. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.