Faculty News
Prof. Thomas Philippon's research on the finance industry is mentioned
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Excerpt from The New York Times -- "Mr. Philippon starts with the familiar observation that finance has grown much faster than the economy as a whole. Specifically, the share of G.D.P. accruing to bankers, traders, and so on has nearly doubled since 1980, when we started dismantling the system of financial regulation created as a response to the Great Depression. What are we getting in return for all that money? Not much, as far as anyone can tell. Mr. Philippon shows that the financial industry has grown much faster than either the flow of savings it channels or the assets it manages."
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Additional coverage appeared on Irish Times.
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Additional coverage appeared on Irish Times.