Nieuwerburgh, Stijn Van; Syverson, Chad; Lustig, Hanno - Society for Economic Dynamics - SED - 2008
Three of the most fundamental changes in US corporations since the early 1970s have been (1) the increase in the importance of organizational capital in production, (2) the increase in managerial income inequality, and (3) the increase in payouts to the owners. There is a unified explanation for...