The Revolving Door and Worker Flows in Banking Regulation

  title={The Revolving Door and Worker Flows in Banking Regulation},
  author={David O. Lucca and Amit Seru and Francesco Trebbi},
  journal={IO: Regulation},
This paper traces career transitions of federal and state U.S. banking regulators from a large sample of publicly available curricula vitae, and provides basic facts on worker flows between the regulatory and private sector resulting from the revolving door. We find strong countercyclical net worker flows into regulatory jobs, driven largely by higher gross outflows into the private sector during booms. These worker flows are also driven by state-specific banking conditions as measured by local… 
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  • R. Hall
  • Economics
    NBER Macroeconomics Annual
  • 2005
New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because jobs become harder to find. Recessions involve little increase in the flow of