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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

  1. Additive Growth
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. Designing Stress Scenarios
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

2021

  1. Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)

2020

  1. A new policy toolkit is needed as countries exit COVID-19 lockdowns
    Policy Briefs, Peterson Institute for International Economics Downloads View citations (39)
  2. Data Sharing and Market Power with Two-Sided Platforms
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
  3. Efficient Programs to Support Businesses During and After Lockdowns
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  4. Optimal Mitigation Policies in a Pandemic: Social Distancing and Working from Home
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (275)
  5. Some Facts about Dominant Firms
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (8)

2019

  1. Big Data and Firm Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (33)
  2. Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
  3. Entry Costs and the Macroeconomy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (19)
  4. Fading Stars
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  5. From Good to Bad Concentration? U.S. Industries over the past 30 years
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (35)
    See also Chapter From Good to Bad Concentration? US Industries over the Past 30 Years, NBER Chapters, National Bureau of Economic Research, Inc (2019) Downloads View citations (39) (2019)
  6. Labor Shares in Some Advanced Economies
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (43)
  7. On Fintech and Financial Inclusion
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (34)
  8. The Failure of Free Entry
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (30)

2018

  1. How EU Markets Became More Competitive Than US Markets: A Study of Institutional Drift
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (82)
  2. How European Markets Became Free: A Study of Institutional Drift
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (34)
  3. Incompleteness Shocks
    2018 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)

2017

  1. Back-testing European stress tests
    Débats économiques et financiers, Banque de France Downloads View citations (4)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) Downloads View citations (19)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) Downloads View citations (15)
  2. Declining Competition and Investment in the U.S
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (69)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) Downloads View citations (69)
  3. Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
    Sciences Po publications, Sciences Po Downloads View citations (102)
    Also in Sciences Po publications, Sciences Po (2014) Downloads View citations (26)
    NBER Working Papers, National Bureau of Economic Research, Inc (2014) Downloads View citations (26)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) Downloads View citations (26)
    Sciences Po Economics Discussion Papers, Sciences Po Departement of Economics (2014) Downloads 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) Downloads View citations (102) (2017)
  4. The FinTech Opportunity
    BIS Working Papers, Bank for International Settlements Downloads View citations (13)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) Downloads View citations (106)
    NBER Working Papers, National Bureau of Economic Research, Inc (2016) Downloads View citations (106)
  5. The analytics of the Greek crisis
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library Downloads View citations (39)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) Downloads View citations (51)
    GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe, Hellenic Observatory, LSE (2016) Downloads View citations (52)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) Downloads View citations (51)

    See also Chapter The Analytics of the Greek Crisis, NBER Chapters, National Bureau of Economic Research, Inc (2016) View citations (50) (2016)
    Journal Article The Analytics of the Greek Crisis, NBER Macroeconomics Annual, University of Chicago Press (2017) Downloads View citations (40) (2017)

2016

  1. Beyond the Liquidity Trap: the Secular Stagnation of Investment
    2016 Meeting Papers, Society for Economic Dynamics Downloads View citations (10)
  2. Household Leverage and the Recession
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (24)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) Downloads View citations (129)
    2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (2)
    NBER Working Papers, National Bureau of Economic Research, Inc (2011) Downloads View citations (137)
    2011 Meeting Papers, Society for Economic Dynamics (2011) Downloads View citations (141)
  3. Investment-less Growth: An Empirical Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (58)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) Downloads View citations (58)

    See also Journal Article Investmentless Growth: An Empirical Investigation, Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution (2017) Downloads View citations (92) (2017)
  4. Runs versus Lemons: Information Disclosure and Fiscal Capacity
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (19)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) Downloads View citations (12)
    2015 Meeting Papers, Society for Economic Dynamics (2015) Downloads View citations (4)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) Downloads View citations (4)

    See also Journal Article Runs versus Lemons: Information Disclosure and Fiscal Capacity, The Review of Economic Studies, Review of Economic Studies Ltd (2017) Downloads View citations (27) (2017)
  5. The analytics of the Greek crisis: celebratory centenary issue
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library Downloads View citations (35)

2015

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

2014

  1. 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 Downloads View citations (12)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) Downloads View citations (28)

    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) Downloads View citations (183) (2015)

2013

  1. Have Financial Markets Become More Informative?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (38)
    Also in Staff Reports, Federal Reserve Bank of New York (2012) Downloads View citations (3)

    See also Journal Article Have financial markets become more informative?, Journal of Financial Economics, Elsevier (2016) Downloads View citations (107) (2016)

2012

  1. Competing on Speed
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) Downloads View citations (21)

    See also Journal Article Competing on Speed, Econometrica, Econometric Society (2018) Downloads View citations (4) (2018)
  2. Measuring Systemic Risk
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (81)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2010) Downloads View citations (303)

    See also Journal Article Measuring Systemic Risk, The Review of Financial Studies, Society for Financial Studies (2017) Downloads View citations (584) (2017)

2011

  1. Informational Rents, Macroeconomic Rents, and Efficient Bailouts
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (4)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) Downloads View citations (4)
  2. Optimal Interventions in Markets with Adverse Selection
    Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics Downloads View citations (16)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (8)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (8)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) Downloads View citations (8)

    See also Journal Article Optimal Interventions in Markets with Adverse Selection, American Economic Review, American Economic Association (2012) Downloads View citations (136) (2012)
  3. The Welfare Effects of Financial Innovation: High-Frequency Trading in Equity Markets
    2011 Meeting Papers, Society for Economic Dynamics Downloads

2009

  1. Efficient Recapitalization
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (16)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (18)

    See also Journal Article Efficient Recapitalization, Journal of Finance, American Finance Association (2013) Downloads View citations (98) (2013)
  2. Wages and Human Capital in the U.S. Financial Industry: 1909-2006
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (27)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (84)

2008

  1. Financing Europe's fast movers
    Policy Briefs, Bruegel Downloads View citations (10)

2007

  1. Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
  2. 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 Downloads View citations (20)
  3. Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (27)
  4. The y-Theory of Investment
    2007 Meeting Papers, Society for Economic Dynamics View citations (1)
  5. Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (16)

2006

  1. Concentrated Ownership and Labour Relations
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (3)
  2. Family Firms, Paternalism and Labour Relations
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) Downloads View citations (11)
  3. The Bond Market's q
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article The Bond Market's q, The Quarterly Journal of Economics, President and Fellows of Harvard College (2009) Downloads View citations (90) (2009)

2005

  1. Firm Volatility and Wage Inequality
    2005 Meeting Papers, Society for Economic Dynamics View citations (6)
  2. Firms and Aggregate Dynamics
    2005 Meeting Papers, Society for Economic Dynamics Downloads View citations (8)
    See also Journal Article Firms and Aggregate Dynamics, The Review of Economics and Statistics, MIT Press (2007) Downloads View citations (32) (2007)
  3. Fiscal Policy and the Term Structure of Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (52)
  4. The Economics of Fraudulent Accounting
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
    See also Journal Article The Economics of Fraudulent Accounting, The Review of Financial Studies, Society for Financial Studies (2009) Downloads View citations (104) (2009)
  5. The Rise in Firm-Level Volatility: Causes and Consequences
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (234)
    See also Chapter The Rise in Firm-Level Volatility: Causes and Consequences, NBER Chapters, National Bureau of Economic Research, Inc (2006) Downloads View citations (51) (2006)
  6. The Risk-Adjusted Cost of Financial Distress
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article The Risk‐Adjusted Cost of Financial Distress, Journal of Finance, American Finance Association (2007) Downloads View citations (102) (2007)

2004

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

2003

  1. 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) Downloads View citations (529) (2006)

2000

  1. The Impact of Differenctial Payroll Tax Subsidies on Minimum Wage Employment
    Working Papers, Center for Research in Economics and Statistics Downloads View citations (11)
    Also in IZA Discussion Papers, Institute of Labor Economics (IZA) (2000) Downloads View citations (24)

    See also Journal Article The impact of differential payroll tax subsidies on minimum wage employment, Journal of Public Economics, Elsevier (2001) Downloads View citations (147) (2001)
  2. The Tail of Two Countries: Minimum Wages and Employment in France and the United States
    IZA Discussion Papers, Institute of Labor Economics (IZA) Downloads View citations (48)

1999

  1. 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

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

2017

  1. Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
    American Economic Review, 2017, 107, (7), 1904-37 Downloads View citations (102)
    See also Working Paper Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone, Sciences Po publications (2017) Downloads View citations (102) (2017)
  2. Investmentless Growth: An Empirical Investigation
    Brookings Papers on Economic Activity, 2017, 48, (2 (Fall)), 89-190 Downloads View citations (92)
    See also Working Paper Investment-less Growth: An Empirical Investigation, NBER Working Papers (2016) Downloads View citations (58) (2016)
  3. L'opportunité de la FinTech
    Revue d'économie financière, 2017, N° 127, (3), 173-206 Downloads
  4. Measuring Systemic Risk
    The Review of Financial Studies, 2017, 30, (1), 2-47 Downloads View citations (584)
    See also Working Paper Measuring Systemic Risk, CEPR Discussion Papers (2012) Downloads View citations (81) (2012)
  5. Runs versus Lemons: Information Disclosure and Fiscal Capacity
    The Review of Economic Studies, 2017, 84, (4), 1683-1707 Downloads View citations (27)
    See also Working Paper Runs versus Lemons: Information Disclosure and Fiscal Capacity, CEPR Discussion Papers (2016) Downloads View citations (19) (2016)
  6. The Analytics of the Greek Crisis
    NBER Macroeconomics Annual, 2017, 31, (1), 1 - 81 Downloads View citations (40)
    See also Working Paper The analytics of the Greek crisis, LSE Research Online Documents on Economics (2017) Downloads View citations (39) (2017)
    Chapter The Analytics of the Greek Crisis, NBER Chapters, 2016, 1-81 (2016) View citations (50) (2016)

2016

  1. Have financial markets become more informative?
    Journal of Financial Economics, 2016, 122, (3), 625-654 Downloads View citations (107)
    See also Working Paper Have Financial Markets Become More Informative?, NBER Working Papers (2013) Downloads View citations (38) (2013)

2015

  1. Has the US Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
    American Economic Review, 2015, 105, (4), 1408-38 Downloads View citations (183)
    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) Downloads View citations (12) (2014)

2014

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

2013

  1. An International Look at the Growth of Modern Finance
    Journal of Economic Perspectives, 2013, 27, (2), 73-96 Downloads View citations (107)
  2. Efficient Recapitalization
    Journal of Finance, 2013, 68, (1), 1-42 Downloads View citations (98)
    See also Working Paper Efficient Recapitalization, CEPR Discussion Papers (2009) Downloads View citations (16) (2009)

2012

  1. Optimal Interventions in Markets with Adverse Selection
    American Economic Review, 2012, 102, (1), 1-28 Downloads View citations (136)
    See also Working Paper Optimal Interventions in Markets with Adverse Selection, Working Papers (2011) Downloads View citations (16) (2011)
  2. Wages and Human Capital in the U.S. Finance Industry: 1909--2006
    The Quarterly Journal of Economics, 2012, 127, (4), 1551-1609 Downloads View citations (215)

2011

  1. Family Firms and Labor Relations
    American Economic Journal: Macroeconomics, 2011, 3, (2), 218-45 Downloads View citations (58)

2010

  1. Debt Overhang and Recapitalization in Closed and Open Economies
    IMF Economic Review, 2010, 58, (1), 157-178 Downloads View citations (23)
  2. Financiers versus Engineers: Should the Financial Sector Be Taxed or Subsidized?
    American Economic Journal: Macroeconomics, 2010, 2, (3), 158-82 Downloads View citations (98)

2009

  1. The Bond Market's q
    The Quarterly Journal of Economics, 2009, 124, (3), 1011-1056 Downloads View citations (90)
    See also Working Paper The Bond Market's q, NBER Working Papers (2006) Downloads View citations (3) (2006)
  2. The Economics of Fraudulent Accounting
    The Review of Financial Studies, 2009, 22, (6), 2169-2199 Downloads View citations (104)
    See also Working Paper The Economics of Fraudulent Accounting, NBER Working Papers (2005) Downloads View citations (6) (2005)

2008

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

2007

  1. Firms and Aggregate Dynamics
    The Review of Economics and Statistics, 2007, 89, (4), 587-600 Downloads View citations (32)
    See also Working Paper Firms and Aggregate Dynamics, 2005 Meeting Papers (2005) Downloads View citations (8) (2005)
  2. The Risk‐Adjusted Cost of Financial Distress
    Journal of Finance, 2007, 62, (6), 2557-2586 Downloads View citations (102)
    See also Working Paper The Risk-Adjusted Cost of Financial Distress, NBER Working Papers (2005) Downloads (2005)

2006

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

2005

  1. No-arbitrage Taylor rules - comments
    Proceedings, 2005 Downloads

2001

  1. The impact of differential payroll tax subsidies on minimum wage employment
    Journal of Public Economics, 2001, 82, (1), 115-146 Downloads View citations (147)
    See also Working Paper The Impact of Differenctial Payroll Tax Subsidies on Minimum Wage Employment, Working Papers (2000) Downloads View citations (11) (2000)

Chapters

2019

  1. 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 Downloads View citations (39)
    See also Working Paper From Good to Bad Concentration? U.S. Industries over the past 30 years, National Bureau of Economic Research, Inc (2019) Downloads View citations (35) (2019)

2016

  1. The Analytics of the Greek Crisis
    A chapter in NBER Macroeconomics Annual 2016, Volume 31, 2016, pp 1-81 View citations (50)
    See also Journal Article The Analytics of the Greek Crisis, University of Chicago Press (2017) Downloads View citations (40) (2017)
    Working Paper The analytics of the Greek crisis, London School of Economics and Political Science, LSE Library (2017) Downloads View citations (39) (2017)

2013

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

2012

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

2006

  1. The Rise in Firm-Level Volatility: Causes and Consequences
    A chapter in NBER Macroeconomics Annual 2005, Volume 20, 2006, pp 167-228 Downloads View citations (51)
    See also Working Paper The Rise in Firm-Level Volatility: Causes and Consequences, National Bureau of Economic Research, Inc (2005) Downloads View citations (234) (2005)
 
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