Details about Thomas PHILIPPON

E-mail:
Homepage:	http://pages.stern.nyu.edu/~tphilipp/
Workplace:	Finance Department, Stern School of Business, New York University (NYU), (more information at EDIRC)

Access statistics for papers by Thomas PHILIPPON.

Last updated 2018-12-06. Update your information in the RePEc Author Service.

Short-id: pph81

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Working Papers

2022

Additive Growth
NBER Working Papers, National Bureau of Economic Research, Inc
Designing Stress Scenarios
NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

2021

Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum
NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)

2020

A new policy toolkit is needed as countries exit COVID-19 lockdowns
Policy Briefs, Peterson Institute for International Economics View citations (39)
Data Sharing and Market Power with Two-Sided Platforms
NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
Efficient Programs to Support Businesses During and After Lockdowns
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
Optimal Mitigation Policies in a Pandemic: Social Distancing and Working from Home
NBER Working Papers, National Bureau of Economic Research, Inc View citations (277)
Some Facts about Dominant Firms
NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)

2019

Big Data and Firm Dynamics
NBER Working Papers, National Bureau of Economic Research, Inc View citations (38)
Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
Entry Costs and the Macroeconomy
NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
Fading Stars
NBER Working Papers, National Bureau of Economic Research, Inc
From Good to Bad Concentration? U.S. Industries over the past 30 years
NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
See also Chapter From Good to Bad Concentration? US Industries over the Past 30 Years, NBER Chapters, National Bureau of Economic Research, Inc (2019) View citations (49) (2019)
Labor Shares in Some Advanced Economies
NBER Working Papers, National Bureau of Economic Research, Inc View citations (45)
On Fintech and Financial Inclusion
NBER Working Papers, National Bureau of Economic Research, Inc View citations (44)
The Failure of Free Entry
NBER Working Papers, National Bureau of Economic Research, Inc View citations (36)

2015

Does a Currency Union Need a Capital Market Union?
2015 Meeting Papers, Society for Economic Dynamics

2014

Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (29)
See also Journal Article Has the US Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation, American Economic Review, American Economic Association (2015) View citations (197) (2015)
Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (26)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (26)
See also Journal Article Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone, American Economic Review, American Economic Association (2017) View citations (104) (2017)

2013

Have Financial Markets Become More Informative?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (38)
Also in Staff Reports, Federal Reserve Bank of New York (2012) View citations (3)
See also Journal Article Have financial markets become more informative?, Journal of Financial Economics, Elsevier (2016) View citations (123) (2016)

2012

Competing on Speed
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (21)
See also Journal Article Competing on Speed, Econometrica, Econometric Society (2018) View citations (4) (2018)
Measuring Systemic Risk
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (83)
Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2010) View citations (303)
See also Journal Article Measuring Systemic Risk, The Review of Financial Studies, Society for Financial Studies (2017) View citations (651) (2017)

2011

Informational Rents, Macroeconomic Rents, and Efficient Bailouts
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (4)
Optimal Interventions in Markets with Adverse Selection
Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (16)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (8)
2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (8)
CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (8)
See also Journal Article Optimal Interventions in Markets with Adverse Selection, American Economic Review, American Economic Association (2012) View citations (143) (2012)
The Welfare Effects of Financial Innovation: High-Frequency Trading in Equity Markets
2011 Meeting Papers, Society for Economic Dynamics

2009

Efficient Recapitalization
NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (16)
See also Journal Article Efficient Recapitalization, Journal of Finance, American Finance Association (2013) View citations (101) (2013)
Wages and Human Capital in the U.S. Financial Industry: 1909-2006
NBER Working Papers, National Bureau of Economic Research, Inc View citations (82)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (27)

2008

Financing Europe's fast movers
Bruegel Policy Brief, Bruegel View citations (10)

2007

Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk
NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector
NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
The y-Theory of Investment
2007 Meeting Papers, Society for Economic Dynamics View citations (1)
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance
NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)

2006

Concentrated Ownership and Labour Relations
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
Family Firms, Paternalism and Labour Relations
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (11)
The Bond Market's q
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
See also Journal Article The Bond Market's q, The Quarterly Journal of Economics, President and Fellows of Harvard College (2009) View citations (96) (2009)

2005

Firm Volatility and Wage Inequality
2005 Meeting Papers, Society for Economic Dynamics View citations (6)
Firms and Aggregate Dynamics
2005 Meeting Papers, Society for Economic Dynamics View citations (8)
See also Journal Article Firms and Aggregate Dynamics, The Review of Economics and Statistics, MIT Press (2007) View citations (34) (2007)
Fiscal Policy and the Term Structure of Interest Rates
NBER Working Papers, National Bureau of Economic Research, Inc View citations (52)
The Economics of Fraudulent Accounting
NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
See also Journal Article The Economics of Fraudulent Accounting, The Review of Financial Studies, Society for Financial Studies (2009) View citations (109) (2009)
The Rise in Firm-Level Volatility: Causes and Consequences
NBER Working Papers, National Bureau of Economic Research, Inc View citations (234)
See also Chapter The Rise in Firm-Level Volatility: Causes and Consequences, NBER Chapters, National Bureau of Economic Research, Inc (2006) View citations (50) (2006)
The Risk-Adjusted Cost of Financial Distress
NBER Working Papers, National Bureau of Economic Research, Inc
See also Journal Article The Risk‐Adjusted Cost of Financial Distress, Journal of Finance, American Finance Association (2007) View citations (103) (2007)

2004

Corporate Governance Over the Business Cycle
2004 Meeting Papers, Society for Economic Dynamics View citations (8)
See also Journal Article Corporate governance over the business cycle, Journal of Economic Dynamics and Control, Elsevier (2006) View citations (18) (2006)
The Quality of Labor Relations and Unemployment
NBER Working Papers, National Bureau of Economic Research, Inc View citations (69)

2003

CEO incentives and earnings management
Proceedings, Federal Reserve Bank of Chicago View citations (5)
See also Journal Article CEO incentives and earnings management, Journal of Financial Economics, Elsevier (2006) View citations (565) (2006)

2000

The Impact of Differenctial Payroll Tax Subsidies on Minimum Wage Employment
Working Papers, Center for Research in Economics and Statistics View citations (11)
Also in IZA Discussion Papers, Institute of Labor Economics (IZA) (2000) View citations (24)
See also Journal Article The impact of differential payroll tax subsidies on minimum wage employment, Journal of Public Economics, Elsevier (2001) View citations (150) (2001)
The Tail of Two Countries: Minimum Wages and Employment in France and the United States
IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (49)

1999

Minimum Wages and Employment in France and the United States
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL View citations (68)

Journal Articles

2018

Competing on Speed
Econometrica, 2018, 86, (3), 1067-1115 View citations (4)
See also Working Paper Competing on Speed, CEPR Discussion Papers (2012) View citations (5) (2012)
On the Optimal Speed of Sovereign Deleveraging with Precautionary Savings
IMF Economic Review, 2018, 66, (2), 375-413 View citations (1)

2017

Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
American Economic Review, 2017, 107, (7), 1904-37 View citations (104)
See also Working Paper Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone, CEPR Discussion Papers (2014) View citations (26) (2014)
Investmentless Growth: An Empirical Investigation
Brookings Papers on Economic Activity, 2017, 48, (2 (Fall)), 89-190 View citations (100)
See also Working Paper Investment-less Growth: An Empirical Investigation, NBER Working Papers (2016) View citations (62) (2016)
L'opportunité de la FinTech
Revue d'économie financière, 2017, N° 127, (3), 173-206
Measuring Systemic Risk
The Review of Financial Studies, 2017, 30, (1), 2-47 View citations (651)
See also Working Paper Measuring Systemic Risk, CEPR Discussion Papers (2012) View citations (83) (2012)
Runs versus Lemons: Information Disclosure and Fiscal Capacity
The Review of Economic Studies, 2017, 84, (4), 1683-1707 View citations (30)
See also Working Paper Runs versus Lemons: Information Disclosure and Fiscal Capacity, CEPR Discussion Papers (2016) View citations (20) (2016)
The Analytics of the Greek Crisis
NBER Macroeconomics Annual, 2017, 31, (1), 1 - 81 View citations (44)
See also Working Paper The analytics of the Greek crisis, LSE Research Online Documents on Economics (2017) View citations (39) (2017)
Chapter The Analytics of the Greek Crisis, NBER Chapters, 2016, 1-81 (2016) View citations (54) (2016)

2016

Have financial markets become more informative?
Journal of Financial Economics, 2016, 122, (3), 625-654 View citations (123)
See also Working Paper Have Financial Markets Become More Informative?, NBER Working Papers (2013) View citations (38) (2013)

2015

Has the US Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
American Economic Review, 2015, 105, (4), 1408-38 View citations (197)
See also Working Paper Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation, CEPR Discussion Papers (2014) View citations (13) (2014)

2014

Efficiency and Benefit-Cost Analysis of the Financial System
The Journal of Legal Studies, 2014, 43, (S2), S107 - S120 View citations (6)

2013

An International Look at the Growth of Modern Finance
Journal of Economic Perspectives, 2013, 27, (2), 73-96 View citations (114)
Efficient Recapitalization
Journal of Finance, 2013, 68, (1), 1-42 View citations (101)
See also Working Paper Efficient Recapitalization, NBER Working Papers (2009) View citations (18) (2009)

2012

Optimal Interventions in Markets with Adverse Selection
American Economic Review, 2012, 102, (1), 1-28 View citations (143)
See also Working Paper Optimal Interventions in Markets with Adverse Selection, Working Papers (2011) View citations (16) (2011)
Wages and Human Capital in the U.S. Finance Industry: 1909--2006
The Quarterly Journal of Economics, 2012, 127, (4), 1551-1609 View citations (226)

2011

Family Firms and Labor Relations
American Economic Journal: Macroeconomics, 2011, 3, (2), 218-45 View citations (64)

2010

Debt Overhang and Recapitalization in Closed and Open Economies
IMF Economic Review, 2010, 58, (1), 157-178 View citations (23)
Financiers versus Engineers: Should the Financial Sector Be Taxed or Subsidized?
American Economic Journal: Macroeconomics, 2010, 2, (3), 158-82 View citations (104)

2009

The Bond Market's q
The Quarterly Journal of Economics, 2009, 124, (3), 1011-1056 View citations (96)
See also Working Paper The Bond Market's q, NBER Working Papers (2006) View citations (3) (2006)
The Economics of Fraudulent Accounting
The Review of Financial Studies, 2009, 22, (6), 2169-2199 View citations (109)
See also Working Paper The Economics of Fraudulent Accounting, NBER Working Papers (2005) View citations (6) (2005)

2008

Estimating Risk‐Adjusted Costs of Financial Distress
Journal of Applied Corporate Finance, 2008, 20, (4), 105-109

2007

Firms and Aggregate Dynamics
The Review of Economics and Statistics, 2007, 89, (4), 587-600 View citations (34)
See also Working Paper Firms and Aggregate Dynamics, 2005 Meeting Papers (2005) View citations (8) (2005)
The Risk‐Adjusted Cost of Financial Distress
Journal of Finance, 2007, 62, (6), 2557-2586 View citations (103)
See also Working Paper The Risk-Adjusted Cost of Financial Distress, NBER Working Papers (2005) (2005)

2006

CEO incentives and earnings management
Journal of Financial Economics, 2006, 80, (3), 511-529 View citations (565)
See also Working Paper CEO incentives and earnings management, Proceedings (2003) View citations (5) (2003)
Corporate governance over the business cycle
Journal of Economic Dynamics and Control, 2006, 30, (11), 2117-2141 View citations (18)
See also Working Paper Corporate Governance Over the Business Cycle, 2004 Meeting Papers (2004) View citations (8) (2004)

2005

No-arbitrage Taylor rules - comments
Proceedings, 2005

2001

The impact of differential payroll tax subsidies on minimum wage employment
Journal of Public Economics, 2001, 82, (1), 115-146 View citations (150)
See also Working Paper The Impact of Differenctial Payroll Tax Subsidies on Minimum Wage Employment, Working Papers (2000) View citations (11) (2000)

Chapters

2019

From Good to Bad Concentration? US Industries over the Past 30 Years
A chapter in NBER Macroeconomics Annual 2019, volume 34, 2019, pp 1-46 View citations (49)
See also Working Paper From Good to Bad Concentration? U.S. Industries over the past 30 years, National Bureau of Economic Research, Inc (2019) View citations (41) (2019)

2016

The Analytics of the Greek Crisis
A chapter in NBER Macroeconomics Annual 2016, Volume 31, 2016, pp 1-81 View citations (54)
See also Journal Article The Analytics of the Greek Crisis, University of Chicago Press (2017) View citations (44) (2017)
Working Paper The analytics of the Greek crisis, London School of Economics and Political Science, LSE Library (2017) View citations (39) (2017)

2013

TAXING SYSTEMIC RISK
Chapter 4 in Managing and Measuring Risk Emerging Global Standards and Regulations After the Financial Crisis, 2013, pp 99-122 View citations (5)

2012

How to Calculate Systemic Risk Surcharges
A chapter in Quantifying Systemic Risk, 2012, pp 175-212

2006

The Rise in Firm-Level Volatility: Causes and Consequences
A chapter in NBER Macroeconomics Annual 2005, Volume 20, 2006, pp 167-228 View citations (50)
See also Working Paper The Rise in Firm-Level Volatility: Causes and Consequences, National Bureau of Economic Research, Inc (2005) View citations (234) (2005)