Empirical studies estimating the impact of firm performance on executive pay have primarily concentrated on the short-run response. In this study, the authors present estimates of the complete dynamic response of CEO pay to firm performance. They find that the cumulative response of pay to...

In this article, the authors examine the impact of monetary-base growth on inflation in the post-World War II United States. The most significant and stable empirical relationship is between monetary base growth and inflation. However, the authors also find that non-interest-bearing demand...