Does Executive Comp Cause Big Recessions?

A new academic paper makes a credible argument that stock option contracts for executives can cause excessively large swings in the economy. The paper, which I think is destined to become a classic, has a great title:

A new academic paper makes a credible argument that stock option contracts for executives can cause excessively large swings in the economy. The paper, which I think is destined to become a classic, has a great title: “Some Unpleasant General Equilibrium Implications of Executive Incentive Compensation Contracts. ”

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