Carola Frydman

Assistant Professor

Department of Economics

Boston University

(on leave at Kellogg School of Management, Northwestern University)

270 Bay State Road
Room 315
Boston MA, 02215

Phone: 847-467-4457













1.    Executive Compensation: A New View from a Long-Term Perspective, 1936-2005 (joint with Raven Saks)

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

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


2.    Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms (joint with Raven Molloy)


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


3.    Pay Cuts for the Boss: Executive Compensation in the 1940s (joint with Raven Molloy)


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


4.    Military CEOs (joint with Efraim Benmelech)


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


5.    Economic Effects of Early Shadow Banks: Trust Companies and the Panic of 1907 (joint with Eric Hilt and Lily Y. Zhou)


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


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

Conditionally accepted, Management Science

[Paper (version 12/2014)] New version coming soon


Other Publications

1.    Learning from the Past: Trends in Executive Compensation over the Twentieth Century


CESifo Economic Studies 55 (2009): 458-481


2.    CEO Compensation (joint with Dirk Jenter)


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


3.    Introduction (joint with Leah P. Boustan and Robert A. Margo)


Human Capital and History: The American Record, Leah P. Boustan, Carola Frydman and Robert A. Margo, editors, University of Chicago Press, 2014.


4.    Executive Compensation in American Economic History


Oxford Handbook of American Economic History, Lou Cain, Price Fishback and Paul Rhode, eds., forthcoming


Working Papers

7.    From Plutocracy to Progressivism: The Assassination of President McKinley as a Turning Point in American History? (joint with Richard B. Baker and Eric Hilt)

[Paper (version 10/2013)]


8.    Investment Banks as Corporate Monitors in the Early 20th Century (joint with Eric Hilt)

Revise and Resubmit American Economic Review

[Paper (version 01/2015)]


9.    In Search of Ideas: Technological Innovation and Executive Pay Inequality (joint with Dimitris Papanikolaou)

[Paper (version 11/2015)]


Edited Books

1.    Human Capital in History: The American Record (co-edited with Leah P. Boustan and Robert Margo). University of Chicago Press, 2014.



Press Clippings

For a full list of my media cites, please see here.