NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Technological Change and the Growing Inequality in Managerial Compensation

Hanno Lustig, Chad Syverson, Stijn Van Nieuwerburgh

NBER Working Paper No. 14661
Issued in January 2009

---- Acknowledgements -----

We are grateful to Jason Faberman, Carola Frydman, Enrichetta Ravina, and Scott Schuh for generously sharing their data with us. Lorenzo Naranjo and Andrew Hollenhurst provided outstanding research assistance. For helpful comments we would like to thank Andy Atkeson, Jonathan Berk, Nick Bloom, Murray Carlson, Xavier Gabaix, Ron Giammarino, Francois Gourio, Fatih Guvenen, Hugo Hopenhayn, Boyan Jovanovic, Arvind Krishnamurthy, Adriano Rampini, Kjetil Storesletten, and participants at the UCL conference on income and consumption inequality, the NBER Asset Pricing meetings in Cambridge, the Western Finance Association in Hawaii, Society for Economic Dynamics in Cambridge, the CEPR conference in Gerzensee, the AEA Meetings in San Francisco and seminar participants at Duke finance, NYU Stern finance, HBS finance, UBC finance, Wharton finance, INSEAD finance, Stanford economics, Kellogg finance, and the NYU macro lunch. This work is supported by the National Science Foundation under Grant No 0550910. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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