The Value of Ratings: Evidence from their Introduction in Securities Markets

(with Asaf Bernstein and Eric Hilt)

Journal of Political Economy, Forthcoming

[Paper]

 

Historical Banking Crises

(with Chenzi Xu)

Annual Review of Financial Economics, Forthcoming

[Paper]

 

Political Discretion and Antitrust Policy: Evidence from the Assassination of President McKinley

(with Richard B. Baker and Eric Hilt)

Journal of Law and Economics, 2023, vol. 66(4)

[Paper] [Web Appendix]

 

Financial Frictions and Employment during the Great Depression

(with Efraim Benmelech and Dimitris Papanikolaou)

Journal of Financial Economics, 2019, vol. 133(3), 541-563

[Paper] [Web Appendix]

 

In Search of Ideas: Technological Innovation and Executive Pay Inequality

(with Dimitris Papanikolaou)

Journal of Financial Economics, 2018, vol. 130(1), 1-24

[Paper] [Web Appendix] [Non-technical Summary]

 

Investment Banks as Corporate Monitors in the Early 20th Century

(with Eric Hilt)

American Economic Review, July 2017, vol. 107(7): 1938-70

[Paper] [Web Appendix]

 

Rising Through the Ranks: The Evolution of the Market for Corporate Executives, 1936-2003

Management Science, November 2019, vol. 65(11)

[Paper]

 

Economic Effects of Early `Shadow Banks’: Trust Companies and the Panic of 1907

(with Eric Hilt and Lily Y. Zhou)

Journal of Political Economy, August 2015, vol. 123(4): 902-40.

[Paper]

 

Military CEOs

(with Efraim Benmelech)

Journal of Financial Economics, July 2015, vol. 117(1): 43-59.

[Paper]

 

Pay Cuts for the Boss: Executive Compensation in the 1940s

(joint with Raven Molloy)

Journal of Economic History 72 (March 2012): 225-251

[Paper]

 

Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms

(with Raven Molloy)

Journal of Public Economics 95 (December 2011): 1425-37

[Paper]

 

CEO Compensation

(with Dirk Jenter)

Annual Review of Financial Economics 2 (December 2010): 75-102

[Paper]

 

Executive Compensation: A New View from a Long-Term Perspective, 1936-2005

(with Raven Saks)

Review of Financial Studies 23 (May 2010): 2099-2138

[Paper] [Web Appendix] [Data] [Micro-level Data]