Racial equality boosted by deregulation in US, paper says
The relative wages of the black population in the US has increased as a result of banking deregulation, suggests a working paper published by the Federal Reserve Bank of Boston on December 12.
The authors, Ross Levine, Alexey Levkov and Yona Rubinstein, analyse deregulation from the 1970s to the 1990s in the US, and note bank efficiency improved, barriers to entry fell and competition for labour intensified throughout the economy.
Lower barriers to entry eroded the racial wage gap by reducing
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