Executive Compensation: Facts
---- Acknowledgements -----
We are very grateful to Dave Backus, Heski Bar--Isaac, Kose John, Laura Veldkamp, and Larry White, as well seminar attendants at the Minneapolis Fed, NYU, the 2008 Midwest Macro Conference in Philadelphia, SED Meeting in Cambridge, and EEA conference in Milan, for their comments and suggestions. All remaining errors are our own responsibility. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.