Rising Swedish bank wages do not reflect rising talent, Riksbank paper finds
Workers may be better at extracting rents from their employers
Swedish banks are paying sharply higher wages now compared with 20 years ago, but it is not because they are demanding dramatically more talented workers, according to a working paper published today (December 10) by Sveriges Riksbank.
In "Since you're so rich, you must be really smart": talent and the finance wage Premium, authors Michael Böhm, Daniel Metzger and Per Strömberg construct a large dataset based on school test scores and – for men – test scores when enlisting for compulsory
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