Scholarlink

<p>Since the 1980s, disproportionate top earnings growth in large cities has fueled a resurgence in the spatial concentration of top earnings across countries in the global north. Research attributes this trend to national top earnings growth or globalization but has left unanswered how national and local top earnings growth coincide and why this phenomenon occurs in cities less central to the global economy. Here we show that earnings growth in finance since the 1980s has concentrated top earnings in the few cities where financial market jobs cluster. Using administrative linked employer–employee data for ten countries in the global north from 1989 to 2019, we show that this pattern extends beyond major global cities to smaller financial cities. Comparing financial cities with similar domestic cities shows that this contribution is not just a byproduct of scale or urban growth. We thus emphasize the role of urban sectoral specialization and the labor markets within these sectors in driving the spatial concentration of top earnings.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Rapid earnings growth in finance concentrates top earnings in a few large cities

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2026年4月24日

查看全文
  • Nils Neumann,
  • Olivier Godechot,
  • Lasse Folke Henriksen,
  • Are Skeie Hermansen,
  • Feng Hou,
  • Naomi Kodama,
  • Zoltán Lippényi,
  • Silvia Maja Melzer,
  • Halil Sabanci,
  • Max Thaning,
  • Paula Apascaritei,
  • Dustin Avent Holt,
  • Nina Bandelj,
  • István Boza,
  • Marta M. Elvira,
  • Gergely Hajdu,
  • Alena Křížková,
  • Andrew Penner,
  • Andreja Poje Rožič,
  • Anthony Rainey,
  • Mirna Safi,
  • Matthew Soener,
  • Donald Tomaskovic-Devey

摘要

Since the 1980s, disproportionate top earnings growth in large cities has fueled a resurgence in the spatial concentration of top earnings across countries in the global north. Research attributes this trend to national top earnings growth or globalization but has left unanswered how national and local top earnings growth coincide and why this phenomenon occurs in cities less central to the global economy. Here we show that earnings growth in finance since the 1980s has concentrated top earnings in the few cities where financial market jobs cluster. Using administrative linked employer–employee data for ten countries in the global north from 1989 to 2019, we show that this pattern extends beyond major global cities to smaller financial cities. Comparing financial cities with similar domestic cities shows that this contribution is not just a byproduct of scale or urban growth. We thus emphasize the role of urban sectoral specialization and the labor markets within these sectors in driving the spatial concentration of top earnings.