The purpose of this paper is to update the empirical investigation into pay-setting practices of major U.S. companies. While it enters the debate on the determinants of CEO compensation, our approach is explanatory rather than prescriptive. Our empirical analysis is based on a sample of 236...

When calculating financial need, the FAFSA does not consider the parental income of students who turn 24 years old. This paper uses the student's quarter of birth interacted with the treated cohort to instrument for financial need. Using the interaction mitigates many of the concerns regarding...