Frydman, Carola; Saks, Raven E. - Federal Reserve Board (Board of Governors of the … - 2007
We analyze the long-run trends in executive compensation using a new panel dataset of top executives in large firms from 1936 to 2005. In sharp contrast to the well-known steep upward trajectory of pay of the past 30 years, the median real value of compensation was remarkably flat from the late...