Extreme Wage Inequality: Pay at the Very Top
We provide new evidence on the growth in pay at the very top of the wage distribution in the UK. Sectoral decompositions show that workers in the financial sector have accounted for the majority of the gains at the top over the last decade. New results are also presented on the pay of CEOs in the UK. We show how improved measurement of pay points to a stronger pay-performance link than previously estimated. This link is stronger, and more symmetric, for those firms in which institutional investors play a larger role.
|Date of creation:||Feb 2013|
|Date of revision:|
|Contact details of provider:|| Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEPOP|
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- Steven N. Kaplan & Joshua Rauh, 2010.
"Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?,"
Review of Financial Studies,
Society for Financial Studies, vol. 23(3), pages 1004-1050, March.
- Steven N. Kaplan & Joshua Rauh, 2010. "Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?," NBER Chapters, in: Corporate Governance National Bureau of Economic Research, Inc.
- Steven N. Kaplan & Joshua Rauh, 2007. "Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?," NBER Working Papers 13270, National Bureau of Economic Research, Inc.
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