Thomas Philippon

New York University (NYU) - Department of Finance

John A. Paulson Professor of Finance and Alternative Investments

Stern School of Business

44 West 4th Street

New York, NY 10012-1126

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

71

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Rank 1,169

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Top 1,169

in Total Papers Downloads

30,528

SSRN CITATIONS
Rank 144

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Top 144

in Total Papers Citations

1,792

CROSSREF CITATIONS

2,570

Scholarly Papers (71)

1.
Downloads 10,343 ( 621)
Citation 257

Measuring Systemic Risk

AFA 2011 Denver Meetings Paper
Number of pages: 46 Posted: 22 Mar 2010 Last Revised: 09 Aug 2010
ProfessorNew York University - Leonard N. Stern School of Business, AQR Capital Management, LLC, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 6,244 (1,482)
Citation 126

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systemic risk, bailout, financial regulation, value at risk

Measuring Systemic Risk

FRB of Cleveland Working Paper No. 10-02
Number of pages: 55 Posted: 24 Apr 2010 Last Revised: 28 Aug 2010
ProfessorNew York University - Leonard N. Stern School of Business, AQR Capital Management, LLC, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 4,085 (3,076)
Citation 14

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systemic risk, risk pricing, systemic expected shortfall, risk internalization

Measuring Systemic Risk

Number of pages: 49 Posted: 01 Mar 2012
ProfessorNew York University - Leonard N. Stern School of Business, AQR Capital Management, LLC, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 14 (728,034)
Citation 87
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bailout, financial regulation, systemic risk, value at risk

2.
Downloads 3,774 ( 3,578)
Citation 403

CEO Incentives and Earnings Management

Journal of Financial Economics, Forthcoming, HBS Finance Working Paper No. 640585
Number of pages: 29 Posted: 02 Feb 2005
Daniel Bergstresser and Thomas Philippon
Brandeis International Business School and New York University (NYU) - Department of Finance
Downloads 3,459 (4,066)
Citation 173

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Earnings management, Stock options, CEO compensation

CEO Incentives and Earnings Management

NYU Working Paper No. FIN-05-007
Number of pages: 28 Posted: 03 Nov 2008
Daniel Bergstresser and Thomas Philippon
Brandeis International Business School and New York University (NYU) - Department of Finance
Downloads 315 (124,534)
Citation 4

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3.
Downloads 1,421 ( 17,551)
Citation 43

Competing on Speed

Econometrica, Vol. 86, No. 3
Number of pages: 57 Posted: 02 Dec 2011 Last Revised: 17 Dec 2018
Emiliano Pagnotta and Thomas Philippon
Singapore Management University and New York University (NYU) - Department of Finance
Downloads 1,233 (21,282)
Citation 31

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liquidity, fragmentation, trading, exchanges, asset pricing, financial markets, high frequency trading, regulation, search, welfare

Competing on Speed

NYU Working Paper No. 2451/31437
Number of pages: 74 Posted: 15 Dec 2011
Emiliano Pagnotta and Thomas Philippon
Singapore Management University and New York University (NYU) - Department of Finance
Downloads 144 (260,723)

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Competing on Speed

NBER Working Paper No. w17652
Number of pages: 75 Posted: 12 Dec 2011 Last Revised: 26 Sep 2021
Thomas Philippon and Emiliano Pagnotta
New York University (NYU) - Department of Finance and Singapore Management University
Downloads 40 (548,698)

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Competing on Speed

Posted: 31 Jan 2012
Emiliano Pagnotta and Thomas Philippon
Singapore Management University and New York University (NYU) - Department of Finance
Downloads 4 (814,651)
Citation 13
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exchanges, high frequency, speed, trading

4.
Downloads 1,407 ( 17,796)
Citation 76

Have Financial Markets Become More Informative?

Journal of Financial Economics (JFE), Vol. 122, No. 3, 2016
Number of pages: 70 Posted: 13 Nov 2012 Last Revised: 19 Feb 2017
Jennie Bai, Thomas Philippon and Alexi Savov
Georgetown University - Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 1,333 (18,948)
Citation 1

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price informativeness, economic growth, investment, revelatory price efficiency, forecasting price efficiency

Have Financial Markets Become More Informative?

NBER Working Paper No. w19728
Number of pages: 70 Posted: 29 May 2014 Last Revised: 28 Nov 2021
Jennie Bai, Thomas Philippon and Alexi Savov
Georgetown University - Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 74 (410,598)
Citation 38

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5.
Downloads 1,340 ( 19,110)
Citation 3

The Quality of Labor Relations and Unemployment

Number of pages: 28 Posted: 25 Jun 2004
National Bureau of Economic Research (NBER)Peter G. Peterson Institute for International Economics and New York University (NYU) - Department of Finance
Downloads 1,171 (23,028)
Citation 1

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Unemployment, labor relations, unions, strikes, Europe

The Quality of Labor Relations and Unemployment

NYU Working Paper No. FIN-06-038
Number of pages: 32 Posted: 03 Nov 2008
National Bureau of Economic Research (NBER)Peter G. Peterson Institute for International Economics and New York University (NYU) - Department of Finance
Downloads 106 (327,577)

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The Quality of Labor Relations and Unemployment

NBER Working Paper No. w10590
Number of pages: 28 Posted: 07 Jul 2004 Last Revised: 10 Dec 2021
National Bureau of Economic Research (NBER)Peter G. Peterson Institute for International Economics and New York University (NYU) - Department of Finance
Downloads 63 (448,108)

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6.
Downloads 1,193 ( 22,786)
Citation 120

The Risk-Adjusted Cost of Financial Distress

8th Annual Texas Finance Festival
Number of pages: 44 Posted: 29 Sep 2005
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
Downloads 1,104 (25,122)
Citation 1

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Bankrupcty, corporate valuation, capital structure, default risk, yield spreads, debt conservatism

The Risk-Adjusted Cost of Financial Distress

NBER Working Paper No. w11685
Number of pages: 54 Posted: 15 Dec 2005 Last Revised: 06 Dec 2021
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
Downloads 89 (367,485)
Citation 19

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7.
Downloads 1,167 ( 23,549)
Citation 12

The FinTech Opportunity

BIS Working Paper No. 655
Number of pages: 33 Posted: 12 Aug 2017
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 724 (45,283)

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FinTech, financial innovation, regulation, rents

The Fintech Opportunity

NBER Working Paper No. w22476
Number of pages: 25 Posted: 08 Aug 2016 Last Revised: 01 Dec 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 440 (85,197)
Citation 1

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The FinTech Opportunity

Number of pages: 27 Posted: 25 Jul 2016
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 3 (823,797)
Citation 8
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8.
Downloads 1,071 ( 26,653)
Citation 44

The Economics of Fraudulent Accounting

AFA 2006 Boston Meetings Paper
Number of pages: 32 Posted: 23 Mar 2005
Simi Kedia and Thomas Philippon
Rutgers Business School and New York University (NYU) - Department of Finance
Downloads 840 (37,002)
Citation 3

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The Economics of Fraudulent Accounting

NYU Working Paper No. CLB-06-015
Number of pages: 41 Posted: 31 Oct 2008
Simi Kedia and Thomas Philippon
Rutgers Business School and New York University (NYU) - Department of Finance
Downloads 156 (243,983)
Citation 1

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The Economics of Fraudulent Accounting

NBER Working Paper No. w11573
Number of pages: 41 Posted: 25 May 2006 Last Revised: 16 Aug 2021
Simi Kedia and Thomas Philippon
Rutgers Business School and New York University (NYU) - Department of Finance
Downloads 75 (407,364)
Citation 8

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The Economics of Fraudulent Accounting

The Review of Financial Studies, Vol. 22, No. 6, pp. 2169-2199, 2009
Posted: 01 Jun 2009
Simi Kedia and Thomas Philippon
Rutgers Business School and New York University (NYU) - Department of Finance

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G30, G34, M41

9.

Revealed Preferences for Corporate Leverage

Number of pages: 23 Posted: 19 Feb 2004
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 968 (30,805)
Citation 1

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Capital structure, pecking order, leverage

10.
Downloads 458 ( 82,054)
Citation 8

Fiscal Policy and the Term Structure of Interest Rates

Number of pages: 37 Posted: 05 Jan 2005
Qiang Dai and Thomas Philippon
University of North Carolina (UNC) at Chapel Hill - Finance Area and New York University (NYU) - Department of Finance
Downloads 385 (99,515)
Citation 4

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No-arbitrage, interest rates, yield curve, fiscal policy, public deficits

Fiscal Policy and the Term Structure of Interest Rates

NBER Working Paper No. w11574
Number of pages: 38 Posted: 10 Oct 2005 Last Revised: 18 Aug 2021
Qiang Dai and Thomas Philippon
University of North Carolina (UNC) at Chapel Hill - Finance Area and New York University (NYU) - Department of Finance
Downloads 73 (413,759)
Citation 1

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11.

Is There an Investment Gap in Advanced Economies? If So, Why?

Number of pages: 42 Posted: 19 Jul 2017
Rotterdam School of Management, Erasmus University, New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 432 (87,848)
Citation 18

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12.

Household Leverage and the Recession

NYU Working Paper No. 2451/31371
Number of pages: 54 Posted: 15 Dec 2011
Virgiliu Midrigan and Thomas Philippon
New York University (NYU) and New York University (NYU) - Department of Finance
Downloads 430 (88,308)
Citation 1

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13.
Downloads 415 ( 91,949)
Citation 25

Family Firms, Paternalism, and Labor Relations

ECGI - Finance Working Paper No. 186/2007
Number of pages: 52 Posted: 17 Nov 2006 Last Revised: 27 Dec 2007
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 316 (124,103)

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family ownership, family firms, labor relations

Family Firms, Paternalism, and Labor Relations

NBER Working Paper No. w12739
Number of pages: 53 Posted: 07 Dec 2006 Last Revised: 24 Oct 2021
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 28 (619,626)
Citation 5

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Family Firms, Paternalism, and Labor Relations

NYU Working Paper No. CLB-06-019
Number of pages: 52 Posted: 31 Oct 2008
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 25 (640,961)

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Family Firms, Paternalism, and Labor Relations

NYU Working Paper No. FIN-06-040
Number of pages: 52 Posted: 03 Nov 2008
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 24 (648,419)

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Family Firms, Paternalism, and Labor Relations

NYU Working Paper No. FIN-06-020
Number of pages: 52 Posted: 03 Nov 2008
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 22 (663,664)

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14.

Has the U.S. Finance Industry Become Less Efficient?

NYU Working Paper No. 2451/31370
Number of pages: 28 Posted: 15 Dec 2011
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 408 (93,852)

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15.
Downloads 389 ( 99,149)
Citation 23

Corporate Governance Over the Business Cycle

Number of pages: 30 Posted: 19 Oct 2003
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 311 (126,228)
Citation 7

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Corporate Governance, Business Cycles

Corporate Governance Over the Business Cycle

NYU Working Paper No. S-MF-03-10
Number of pages: 30 Posted: 12 Nov 2008
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 42 (538,363)

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Corporate Governance Over the Business Cycle

NYU Working Paper No. S-CG-03-03
Number of pages: 31 Posted: 04 Nov 2008
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 36 (570,496)
Citation 3

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16.
Downloads 315 (125,263)
Citation 68

Efficient Recapitalization

Journal of Finance, Forthcoming
Number of pages: 56 Posted: 06 Oct 2009 Last Revised: 09 Aug 2012
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 201 (195,425)
Citation 18

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Efficient Recapitalization

NBER Working Paper No. w14929
Number of pages: 56 Posted: 03 May 2009 Last Revised: 18 Apr 2021
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 74 (410,598)

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Efficient Recapitalization

NYU Working Paper No. 2451/28301
Number of pages: 61 Posted: 10 Sep 2013
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 35 (576,123)

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Efficient Recapitalization

Number of pages: 63 Posted: 17 Nov 2009
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 5 (805,995)
Citation 4
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bailout, capital, financial crisis, moral hazard

17.

Government Deficits and Interest Rates: A No-Arbitrage Structural VAR Approach

Number of pages: 28 Posted: 02 Jan 2005
Qiang Dai and Thomas Philippon
University of North Carolina (UNC) at Chapel Hill - Finance Area and New York University (NYU) - Department of Finance
Downloads 284 (139,751)
Citation 9

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18.

The Tail of Two Countries: Minimum Wages and Employment in France and the United States

Number of pages: 40 Posted: 01 Dec 2000
Independent, U.S. Census Bureau, Centre d'Economie de la Sorbonne and New York University (NYU) - Department of Finance
Downloads 279 (142,388)

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Minimum wage, international comparisons, labor demand, labor costs

Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation

NBER Working Paper No. w18077
Number of pages: 41 Posted: 12 May 2012 Last Revised: 24 Nov 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 261 (151,735)
Citation 24

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Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation

Number of pages: 44 Posted: 02 Jun 2014
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 1 (848,427)
Citation 41
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economic growth, informativeness, investment, price efficiency

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk

NYU Working Paper No. FIN-07-010
Number of pages: 34 Posted: 03 Nov 2008
Thomas Philippon and Yuliy Sannikov
New York University (NYU) - Department of Finance and University of California, Berkeley - Department of Economics
Downloads 140 (266,689)

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Real Options in a Dynamic Agency Model, with Applications to Financial Development, Ipos, and Business Risk

NBER Working Paper No. w13584
Number of pages: 35 Posted: 05 Nov 2007 Last Revised: 15 Aug 2021
Thomas Philippon and Yuliy Sannikov
New York University (NYU) - Department of Finance and University of California, Berkeley - Department of Economics
Downloads 94 (354,771)

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21.

How Expensive Are U.S. Broadband and Wireless Services?

NYU Stern School of Business Forthcoming
Number of pages: 10 Posted: 29 Apr 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 233 (170,191)

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Telecommunication, Competition, Consumer Welfare

Wages and Human Capital in the U.S. Financial Industry: 1909-2006

NBER Working Paper No. w14644
Number of pages: 61 Posted: 19 Jan 2009 Last Revised: 06 Jan 2022
Thomas Philippon, Ariell Reshef and Ariell Reshef
New York University (NYU) - Department of Finance and Paris School of Economics (PSE)CNRS
Downloads 220 (179,389)
Citation 3

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Wages and Human Capital in the U.S. Financial Industry: 1909-2006

Number of pages: 62 Posted: 15 Jul 2009
Thomas Philippon, Ariell Reshef and Ariell Reshef
New York University (NYU) - Department of Finance and Paris School of Economics (PSE)CNRS
Downloads 10 (762,421)
Citation 36
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finance, human capital, regulation, wages

23.

The Equilibrium Size of the Financial Sector

NYU Working Paper No. FIN-07-007
Number of pages: 35 Posted: 03 Nov 2008
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 230 (172,309)

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24.

Monetary Independence in Emerging Markets: Does the Exchange Rate Regime Make a Difference?

Number of pages: 50 Posted: 08 Jun 2001
Inter-American Development Bank (IADB), Peter G. Peterson Institute for International Economics and New York University (NYU) - Department of Finance
Downloads 226 (175,281)
Citation 6

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Monetary policy, exchange rate regime, interest rates, risk premium

25.

Firms and Aggregate Dynamics

Number of pages: 26 Posted: 05 Jan 2005
Francesco A. Franco and Thomas Philippon
Universidade Nova de Lisboa and New York University (NYU) - Department of Finance
Downloads 184 (211,656)
Citation 7

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Technology shocks, business cycles, long-run restrictions

An Explanation for the Joint Evolution of Firm and Aggregate Volatility

Number of pages: 20 Posted: 19 Oct 2003
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 111 (317,068)
Citation 15

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Business Cycles, Volatility, Competition, Nominal Rigidities

An Explanation for the Joint Evolution of Firm and Aggregate Volatility

NYU Working Paper No. S-DRP-03-16
Number of pages: 20 Posted: 07 Nov 2008
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 56 (475,063)

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27.

Assessing DOJ’s Proposed Remedy in Sprint/T-Mobile: Can Ex Ante Competitive Conditions in Wireless Markets Be Restored?

NET Institute Working Paper No. 19-14, NYU Stern School of Business
Number of pages: 14 Posted: 21 Oct 2019
New York University - Leonard N. Stern School of Business - Department of Economics, Northeastern University - Department of Economics, New York University (NYU) - Department of Finance, New York University (NYU) - Leonard N. Stern School of Business, Econ One, University of Utah Department of Economics and New York University (NYU) - Leonard N. Stern School of Business, Department of EconomicsStern School of Business, New York University
Downloads 161 (237,164)
Citation 1

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Telecommunications; Merger; Tunney Act; Sprint; T-Mobile; Dish; DOJ

28.

Big Data and Firm Dynamics

NYU Stern School of Business
Number of pages: 16 Posted: 05 Mar 2019
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Swiss Finance Institute - HEC Lausanne, New York University (NYU) - Department of Finance and Columbia University - Columbia Business School
Downloads 155 (244,792)

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Big Data, Data Feedback Loop, Active Experimentation, Industry Competition

Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector

NYU Working Paper No. FIN-07-008
Number of pages: 46 Posted: 03 Nov 2008
Thomas Philippon, Ariell Reshef and Ariell Reshef
New York University (NYU) - Department of Finance and Paris School of Economics (PSE)CNRS
Downloads 85 (378,224)

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Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector

NBER Working Paper No. w13437
Number of pages: 47 Posted: 24 Sep 2007 Last Revised: 21 Mar 2021
Thomas Philippon, Ariell Reshef and Ariell Reshef
New York University (NYU) - Department of Finance and Paris School of Economics (PSE)CNRS
Downloads 47 (514,043)

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Financiers Vs. Engineers: Should the Financial Sector Be Taxed or Subsidized?

AFA 2010 Atlanta Meetings Paper
Number of pages: 27 Posted: 17 Mar 2009
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 97 (347,658)

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human capital, growth, financing

Financiers Vs. Engineers:Should the Financial Sector Be Taxed or Subsidized?

NYU Working Paper No. FIN-07-009
Number of pages: 27 Posted: 03 Nov 2008
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 17 (703,054)

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Financiers vs. Engineers: Should the Financial Sector Be Taxed or Subsidized?

NBER Working Paper No. w13560
Number of pages: 28 Posted: 31 Oct 2007 Last Revised: 22 Jul 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 17 (703,054)
Citation 10

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31.

Concentrated Ownership and Labor Relations

Number of pages: 53 Posted: 18 Jul 2006
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 131 (279,613)
Citation 4

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32.
Downloads 124 (291,497)
Citation 6

On Fintech and Financial Inclusion

BIS Working Paper No. 841, NYU Stern School of Business
Number of pages: 19 Posted: 09 Mar 2020
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 92 (359,745)

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fintech, discrimination, robo advising, credit scoring, big data, machine learning

On Fintech and Financial Inclusion

NBER Working Paper No. w26330
Number of pages: 19 Posted: 11 Jun 2020 Last Revised: 12 Dec 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 32 (593,725)

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On Fintech and Financial Inclusion

Number of pages: 21 Posted: 14 Jan 2020
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 0
Citation 6
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33.

The Impact of Differential Payroll Tax Subsidies on Minimum Wage Employment

Number of pages: 37 Posted: 04 Dec 2000
Francis Kramarz and Thomas Philippon
Independent and New York University (NYU) - Department of Finance
Downloads 117 (303,929)
Citation 3

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Minimum wage, total labor costs, tax subsidies

34.
Downloads 116 (305,750)
Citation 13

Declining Competition and Investment in the U.S

NBER Working Paper No. w23583
Number of pages: 74 Posted: 17 Jul 2017 Last Revised: 10 Dec 2021
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 109 (321,169)
Citation 9

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Declining Competition and Investment in the U.S

Number of pages: 80 Posted: 02 Jan 2018
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 7 (788,759)
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Concentration, investment, Markups

35.

Economists’ Tunney Act Reply Comments on the DOJ’s Proposed Remedy in the Sprint/T-Mobile Merger Proceeding

NET Institute Working Paper No. 20-02, 2020, NYU Stern School of Business
Number of pages: 468 Posted: 26 Jan 2020
New York University - Leonard N. Stern School of Business - Department of Economics, Northeastern University - Department of Economics, New York University (NYU) - Department of Finance, New York University (NYU) - Leonard N. Stern School of Business, Econ One, University of Utah Department of Economics and New York University (NYU) - Leonard N. Stern School of Business, Department of EconomicsStern School of Business, New York University
Downloads 110 (317,290)

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Telecommunications, Merger, Tunney Act, Sprint, T-Mobile, Dish, DOJ, AT&T, Verizon

How European Markets Became Free: A Study of Institutional Drift

NBER Working Paper No. w24700
Number of pages: 89 Posted: 13 Jun 2018 Last Revised: 29 Dec 2021
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 108 (323,265)

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How EU Markets Became More Competitive than US Markets: A Study of Institutional Drift

Number of pages: 77 Posted: 11 Jun 2018
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 0
Citation 6
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37.
Downloads 107 (323,424)
Citation 79

Optimal Interventions in Markets with Adverse Selection

NYU Working Paper No. 2451/30283
Number of pages: 34 Posted: 06 Dec 2010
Thomas Philippon and Vasiliki Skreta
New York University (NYU) - Department of Finance and University of Texas at Austin - Department of Economics
Downloads 74 (410,598)

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adverse selection, market collapse, mechanism design, mechanism-dependent participation

Optimal Interventions in Markets with Adverse Selection

NBER Working Paper No. w15785
Number of pages: 30 Posted: 01 Mar 2010 Last Revised: 20 Aug 2021
Thomas Philippon and Vasiliki Skreta
New York University (NYU) - Department of Finance and University of Texas at Austin - Department of Economics
Downloads 28 (619,626)
Citation 3

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Optimal Interventions in Markets with Adverse Selection

Number of pages: 43 Posted: 17 Mar 2010
Thomas Philippon and Vasiliki Skreta
New York University (NYU) - Department of Finance and University of Texas at Austin - Department of Economics
Downloads 5 (805,995)
Citation 15
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adverse selection, bailout, financial crisis, information, mechanism design

38.

Supplement to 'Competing on Speed': Online Appendices

Number of pages: 20 Posted: 30 Apr 2012 Last Revised: 12 Oct 2017
Emiliano Pagnotta and Thomas Philippon
Singapore Management University and New York University (NYU) - Department of Finance
Downloads 106 (325,499)

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liquidity, fragmentation, welfare, regulation, asset prices, trading venues, trading speed, high-frequency-trading, exchanges

39.

Investment-Less Growth: An Empirical Investigation

NBER Working Paper No. w22897
Number of pages: 67 Posted: 05 Dec 2016 Last Revised: 01 Jan 2019
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 88 (366,834)
Citation 32

Abstract:

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40.

Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance

NBER Working Paper No. w13405
Number of pages: 38 Posted: 24 Sep 2007 Last Revised: 19 Aug 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 87 (369,347)

Abstract:

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41.

The Economics of Fraudulent Accounting

NYU Working Paper No. FIN-05-008
Number of pages: 33 Posted: 03 Nov 2008
Semi Kedia and Thomas Philippon
affiliation not provided to SSRN and New York University (NYU) - Department of Finance
Downloads 83 (380,103)

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The Rise in Firm-Level Volatility: Causes and Consequences

NYU Working Paper No. S-DRP-05-01
Number of pages: 44 Posted: 05 Nov 2008
Diego Comin and Thomas Philippon
New York University (NYU) - Department of Economics and New York University (NYU) - Department of Finance
Downloads 53 (487,289)
Citation 1

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The Rise in Firm-Level Volatility: Causes and Consequences

NYU Working Paper No. SC-CFE-05-01
Number of pages: 16 Posted: 07 Nov 2008
Diego Comin and Thomas Philippon
New York University (NYU) - Department of Economics and New York University (NYU) - Department of Finance
Downloads 27 (626,519)
Citation 2

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43.

Fading Stars

NBER Working Paper No. w25529
Number of pages: 29 Posted: 12 Feb 2019 Last Revised: 04 Apr 2021
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 68 (425,049)
Citation 1

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44.

Comments on the DOJ/FTC Draft Vertical Merger Guidelines

NET Institute Working Paper No. #20-04, 2020, NYU Stern School of Business
Number of pages: 10 Posted: 20 Feb 2020
New York University - Leonard N. Stern School of Business - Department of Economics, Northeastern University - Department of Economics, New York University (NYU) - Department of Finance, Econ One and New York University (NYU) - Leonard N. Stern School of Business, Department of EconomicsStern School of Business, New York University
Downloads 67 (428,279)
Citation 2

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DOJ, FTC, Vertical Merger, Guidelines

45.

State of New York v. Deutsche Telecom AG. Brief of Amici Curiae Nicholas Economides, John Kwoka, Thomas Philippon, Robert Seamans, Hal Singer, Marshall Steinbaum, and Lawrence J. White in Support of Plaintiffs

NET Institute Working Paper No. #20-01, NYU Stern School of Business
Number of pages: 20 Posted: 15 Jan 2020
New York University - Leonard N. Stern School of Business - Department of Economics, Northeastern University - Department of Economics, New York University (NYU) - Department of Finance, New York University (NYU) - Leonard N. Stern School of Business, Econ One, University of Utah Department of Economics and New York University (NYU) - Leonard N. Stern School of Business, Department of EconomicsStern School of Business, New York University
Downloads 63 (442,048)

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antitrust, telecommunications, merger, Sprint, T-Mobile, AT&T, Verizon, Dish, DOJ

46.

The Y-Theory of Investment

NYU Working Paper No. FIN-06-039
Number of pages: 35 Posted: 03 Nov 2008
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 58 (460,209)

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47.

The Bond Market&Apos;S Q

NBER Working Paper No. w12462
Number of pages: 40 Posted: 21 Aug 2006 Last Revised: 22 Jul 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 51 (487,503)
Citation 22

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48.

From Good to Bad Concentration? U.S. Industries Over the Past 30 Years

NBER Working Paper No. w25983
Number of pages: 66 Posted: 01 Jul 2019 Last Revised: 31 Dec 2021
New York University (NYU), New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 50 (491,678)
Citation 17

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49.
Downloads 47 (504,619)
Citation 1

Household Leverage and the Recession

NBER Working Paper No. w16965
Number of pages: 51 Posted: 25 Apr 2011 Last Revised: 10 Nov 2021
Thomas Philippon and Virgiliu Midrigin
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Economics
Downloads 43 (533,308)

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Household Leverage and the Recession

Number of pages: 49 Posted: 19 May 2011
Virgiliu Midrigin and Thomas Philippon
New York University (NYU) - Department of Economics and New York University (NYU) - Department of Finance
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cash-in-advance, household credit, housing, leverage, monetary policy, Recession

50.
Downloads 37 (552,217)
Citation 9

The Failure of Free Entry

NBER Working Paper No. w26001
Number of pages: 50 Posted: 26 Jun 2019 Last Revised: 18 Nov 2021
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 34 (581,908)
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The Failure of Free Entry

Number of pages: 51 Posted: 14 Jan 2020
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 3 (823,797)
Citation 9
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51.
Downloads 37 (552,217)
Citation 1

Big Data and Firm Dynamics

NBER Working Paper No. w25515
Number of pages: 11 Posted: 04 Feb 2019 Last Revised: 30 Aug 2021
Massachusetts Institute of Technology (MIT) - Sloan School of Management, New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Columbia University - Columbia Business School
Downloads 35 (576,123)

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Big Data and Firm Dynamics

Number of pages: 8 Posted: 28 Jan 2019
Columbia University - Columbia Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management, New York University (NYU) - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 2 (834,727)
Citation 1
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Big Data, firm size

52.

Optimal Mitigation Policies in a Pandemic: Social Distancing and Working from Home

NBER Working Paper No. w26984
Number of pages: 40 Posted: 13 Apr 2020 Last Revised: 19 Nov 2021
International Monetary Fund (IMF), New York University (NYU) - Department of Finance and Federal Reserve Banks - Federal Reserve Bank of MinneapolisNew York University (NYU) - Leonard N. Stern School of Business
Downloads 34 (568,159)
Citation 33

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53.
Downloads 30 (590,637)
Citation 1

Labor Shares in Some Advanced Economies

NBER Working Paper No. w26136
Number of pages: 26 Posted: 07 Aug 2019 Last Revised: 01 Dec 2021
Gilbert Cette, Lorraine Koehl and Thomas Philippon
Banque de France, National Institute of Statistics and Economic Studies (INSEE) and New York University (NYU) - Department of Finance
Downloads 28 (619,626)
Citation 1

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Labor Shares in Some Advanced Economies

NYU Stern School of Business
Number of pages: 20 Posted: 04 Sep 2019
Gilbert Cette, Lorraine Koehl and Thomas Philippon
Banque de France, National Institute of Statistics and Economic Studies (INSEE) and New York University (NYU) - Department of Finance
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labor share, labor cost, value added sharing

54.
Downloads 30 (590,637)
Citation 18

The Analytics of the Greek Crisis

NBER Working Paper No. w22370
Number of pages: 72 Posted: 27 Jun 2016 Last Revised: 16 Aug 2021
University of California, Berkeley - Department of Economics, New York University (NYU) - Department of Finance and London School of Economics
Downloads 29 (612,857)
Citation 2

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The Analytics of the Greek Crisis

Number of pages: 74 Posted: 20 Jun 2016
University of California, Berkeley - Department of Economics, New York University (NYU) - Department of Finance and London School of Economics
Downloads 1 (848,427)
Citation 14
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bank-sovereign loop, DSGE model, fiscal contraction, Greek crisis, price rigidities, sovereign default, sudden stop

55.

Concentrated Ownership and Labour Relations

Number of pages: 56 Posted: 27 Sep 2006
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 29 (596,672)
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Labour relations, ownership concentration, strikes

56.

Efficient Programs to Support Businesses During and after Lockdowns

NBER Working Paper No. w28211
Number of pages: 16 Posted: 21 Dec 2020 Last Revised: 19 Nov 2021
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 28 (602,901)

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57.
Downloads 27 (609,224)
Citation 1

Entry Costs and the Macroeconomy

Number of pages: 44 Posted: 21 Nov 2019
German Gutierrez Gallardo, Callum Jones and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students, Board of Governors of the Federal Reserve System and New York University (NYU) - Department of Finance
Downloads 19 (687,103)

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Price indexes, Supply and demand, Business cycles, Financial crises, Consumption, Corporate Investment, Competition, Tobin's Q, Zero Lower Bound., WP, entry cost, ZLB, Herfindahl, net investment, premia

Entry Costs and the Macroeconomy

NBER Working Paper No. w25609
Number of pages: 58 Posted: 04 Mar 2019 Last Revised: 23 Dec 2021
German Gutierrez Gallardo, Callum Jones and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students, International Monetary Fund (IMF) and New York University (NYU) - Department of Finance
Downloads 8 (779,918)
Citation 1

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58.
Downloads 27 (609,224)
Citation 3

Household Leverage and the Recession

Number of pages: 52 Posted: 01 Oct 2018
Callum Jones, Virgiliu Midrigin and Thomas Philippon
Board of Governors of the Federal Reserve System, New York University (NYU) - Department of Economics and New York University (NYU) - Department of Finance
Downloads 27 (626,519)
Citation 3

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Household credit, Household consumption, Economic recession, Employment, Financial crises, Econometric models, Great Recession, Household Debt, Regional Evidence, Zero Lower Bound, General

Household Leverage and the Recession

Number of pages: 42 Posted: 25 Jul 2016
Virgiliu Midrigin and Thomas Philippon
New York University (NYU) - Department of Economics and New York University (NYU) - Department of Finance
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great recession, Household Debt, Regional Evidence, zero lower bound

59.
Downloads 25 (622,459)
Citation 2

Backtesting European Stress Tests

NBER Working Paper No. w23083
Number of pages: 39 Posted: 23 Jan 2017 Last Revised: 29 Jul 2021
Thomas Philippon, Pierre Pessarossi and Boubacar Camara
New York University (NYU) - Department of Finance, French Banking Supervisory Authority - Autorité de Contrôle Prudentiel et de Résolution (ACPR) and French Banking Supervisory Authority - Autorité de Contrôle Prudentiel et de Résolution (ACPR)
Downloads 25 (640,961)
Citation 2

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Backtesting European Stress Tests

Number of pages: 41 Posted: 30 Jan 2017
Boubacar Camara, Pierre Pessarossi and Thomas Philippon
French Banking Supervisory Authority - Autorité de Contrôle Prudentiel et de Résolution (ACPR), French Banking Supervisory Authority - Autorité de Contrôle Prudentiel et de Résolution (ACPR) and New York University (NYU) - Department of Finance
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Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone

NBER Working Paper No. w20572
Number of pages: 56 Posted: 14 Oct 2014 Last Revised: 18 Sep 2021
Philippe Martin and Thomas Philippon
Sciences Po and New York University (NYU) - Department of Finance
Downloads 18 (695,012)
Citation 12

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Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone

Number of pages: 63 Posted: 14 Oct 2014
Philippe Martin and Thomas Philippon
Sciences Po and New York University (NYU) - Department of Finance
Downloads 2 (834,727)
Citation 16
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Eurozone crisis, Fiscal policy, Macroprudential policy, private leverage, sudden stop

Informational Rents, Macroeconomic Rents, and Efficient Bailouts

NBER Working Paper No. w16727
Number of pages: 55 Posted: 31 Jan 2011 Last Revised: 16 Sep 2021
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 17 (703,054)

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Informational Rents, Macroeconomic Rents, and Efficient Bailouts

Number of pages: 57 Posted: 31 Jan 2011
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 3 (823,797)
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bailouts, crises, debt overhang, recapitalization

62.

The Rise in Firm-Level Volatility: Causes and Consequences

NBER Working Paper No. w11388
Number of pages: 43 Posted: 14 Aug 2012 Last Revised: 15 Aug 2021
Diego A. Comin and Thomas Philippon
Harvard Business School - Business, Government and the International Economy Unit and New York University (NYU) - Department of Finance
Downloads 16 (686,692)

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63.

Data Sharing and Market Power with Two-Sided Platforms

NBER Working Paper No. w28023
Number of pages: 21 Posted: 02 Nov 2020 Last Revised: 18 Nov 2021
Rishabh Kirpalani and Thomas Philippon
University of Wisconsin - Madison and New York University (NYU) - Department of Finance
Downloads 15 (694,201)
Citation 1
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64.

Some Facts About Dominant Firms

NBER Working Paper No. w27985
Number of pages: 34 Posted: 27 Oct 2020 Last Revised: 18 Nov 2021
German Gutierrez Gallardo and Thomas Philippon
New York University (NYU) - Leonard N. Stern School of Business, Students and New York University (NYU) - Department of Finance
Downloads 15 (694,201)
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Does a Currency Union Need a Capital Market Union? Risk Sharing Via Banks and Markets

NBER Working Paper No. w26026
Number of pages: 42 Posted: 01 Jul 2019 Last Revised: 13 Aug 2021
Joseba Martinez, Thomas Philippon and Markus Sihvonen
London Business School - Department of Economics, New York University (NYU) - Department of Finance and Bank of Finland
Downloads 12 (745,343)

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Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets

Number of pages: 51 Posted: 14 Jan 2020
Joseba Martinez, Thomas Philippon and Markus Sihvonen
London Business School - Department of Economics, New York University (NYU) - Department of Finance and Bank of Finland
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Banking Union, capital market union, Currency Union, incomplete markets, Risk Sharing

Runs Versus Lemons: Information Disclosure and Fiscal Capacity

NBER Working Paper No. w21201
Number of pages: 68 Posted: 26 May 2015 Last Revised: 06 Dec 2021
Miguel Faria-e-Castro, Joseba Martinez and Thomas Philippon
Federal Reserve Bank of St. Louis, London Business School - Department of Economics and New York University (NYU) - Department of Finance
Downloads 11 (753,829)

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Runs Versus Lemons: Information Disclosure and Fiscal Capacity

Number of pages: 62 Posted: 27 May 2015
Miguel Faria-e-Castro, Joseba Martinez and Thomas Philippon
Federal Reserve Bank of St. Louis, London Business School - Department of Economics and New York University (NYU) - Department of Finance
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bailouts, credit guarantees, deposit insurance, fiscal backstop, stress tests

Runs versus Lemons: Information Disclosure and Fiscal Capacity

Number of pages: 70 Posted: 25 Jul 2016
Miguel Faria-e-Castro, Joseba Martinez and Thomas Philippon
Federal Reserve Bank of St. Louis, London Business School - Department of Economics and New York University (NYU) - Department of Finance
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Citation 19
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67.

Estimating Risk-Adjusted Costs of Financial Distress

Journal of Applied Corporate Finance, Vol. 20, Issue 4, pp. 105-109, Fall 2008
Number of pages: 7 Posted: 18 Dec 2008
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
Downloads 6 (765,952)
Citation 3
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68.

Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum

NBER Working Paper No. w29560
Number of pages: 66 Posted: 13 Dec 2021 Last Revised: 18 Dec 2021
Thomas Philippon, Olivier Wang and Olivier Wang
New York University (NYU) - Department of Finance and New York University (NYU) - Leonard N. Stern School of BusinessNew York University (NYU) - Department of Finance
Downloads 5 (773,814)
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69.

Family Firms, Paternalism and Labour Relations

Number of pages: 55 Posted: 08 May 2007
Holger M. Mueller and Thomas Philippon
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 3 (789,908)
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family firms, labour relations

70.

Entry Costs and the Macroeconomy

Number of pages: 59 Posted: 13 Mar 2019
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 1 (811,425)
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Competition, corporate investment, Tobin's q, zero lower bound

71.

Fading Stars

Number of pages: 30 Posted: 07 Mar 2019 Last Revised: 11 Mar 2019
Thomas Philippon
New York University (NYU) - Department of Finance
Downloads 0 (829,209)
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