Informace o publikaci

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

Autoři	NEUMANN Nils GODECHOT Olivier HENRIKSEN Lasse Folke HERMANSEN Are Skeie HOU Feng KODAMA Naomi LIPPÉNYI Zoltán MELZER Silvia Maja SABANCI Halil THANING Max APASCARITEI Paula HOLT Dustin Avent BANDELJ Nina BOZA István ELVIRA Marta M. HAJDU Gergely István KŘÍŽKOVÁ Alena PENNER Andrew POJE ROŽIČ Andreja RAINEY Anthony SAFI Mirna SOENER Matthew TOMASKOVIC-DEVEY Donald
Rok publikování	2026
Druh	Recenzovaný odborný článek
Časopis / Zdroj	Nature Cities
Fakulta / Pracoviště MU	Ekonomicko-správní fakulta
Citace
www	https://www.nature.com/articles/s44284-026-00407-1
Doi	https://doi.org/10.1038/s44284-026-00407-1
Klíčová slova	Financialization; Top income concentration; Urban inequality; Economic geography
Přiložené soubory	Nils_et_al_2026NatCities_.pdf
Popis	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.