The case for intervening in bankers' pay
This paper studies banker remuneration in a competitive market for banker talent. I model, and then calibrate, the default risk of the banks generated by investments and remuneration pressures. Competing banks prefer to pay their banking staff in bonuses and not in wages as risk sharing on the rem...
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| Aineistotyyppi: | Working paper |
| Julkaistu: |
University of Oxford
2011
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