Thomas Philippon

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Thomas Philippon
BornMay 1974 (1974-05) (age 45)
EducationPh.D in Economics, Master in Economics, M.A. in Physics
Alma materMIT, Paris School of Economics, EHESS, Ecole Polytechnique
EmployerNew York University, Federal Reserve Bank of New York, French Prudential Supervisory Authority, National Bureau of Economic Research, American Economic Journal
AwardsBernácer Prize, Michael Brennan Award, Brattle Prize
Thomas Philippon
Olivier Blanchard[1]
Ricardo J. Caballero[1]
Information at IDEAS / RePEc

Thomas Philippon (born May 1974) is a French economist. Philippon is professor of finance at the Leonard N. Stern School of Business, New York University.[2] In addition to his professorship at NYU, Philippon has held visiting positions at Columbia University, Chicago University, Yale University, and Princeton University. He joined the Monetary Policy Advisory Panel at the Federal Reserve Bank of New York in 2015. He also serves as the Scientific Committee Director at the French Prudential Supervisory Authority, as an associate editor of the American Economic Journal, and as a research associate at the National Bureau of Economic Research.[3]


According to Google Scholar, Philippon's academic papers have been cited nearly 5000 times in the past 5 years. Most notably his paper "CEO Incentives and Earnings Management" has been referenced over 2000 times.[4]


  1. "Le Capitalisme d'héritiers. La crise française du travail." La République des Idées, Seuil, 2007, Prize for Best Book on Human Resources Management

Academic Articles

  1. "Has the U.S. Finance Industry Become Less Efficient?" (2014) (forthcoming in American Economic Review)
  2. "Efficiency and Cost-Benefit Analysis of the Financial System", forthcoming in the Journal of Legal Studies
  3. "An International Look at the Growth of Modern Finance" with Ariell Reshef, Journal of Economic Perspectives, 27(2), Spring 2013, pp. 73–96.
  4. "Efficient Recapitalization," with Philipp Schnabl, Journal of Finance, February 2013, lead article
  5. "Wages and Human Capital in the U.S. Financial Industry: 1909-2006," with Ariell Reshef, Quarterly Journal of Economics, November 2012, lead article
  6. "Optimal Interventions in Markets with Adverse Selection," with Vasiliki Skreta, American Economic Review, February 2012, lead article
  7. "Family Firms, Paternalism, and Labor Relations," with Holger Mueller, American Economic Journal: Macroeconomics, April 2011, 3(2): 218–45
  8. "Debt Overhang and Recapitalization in Closed and Open Economies," IMF Economic Review (inaugural issue), 2010
  9. "Financiers versus Engineers: Should the financial sector be taxed or subsidized? American Economic Journal: Macroeconomics, July 2010, 2(3): 158–82.
  10. "The bond market's Q", Quarterly Journal of Economics, August 2009, 124(3), 1011–56
  11. "The economics of fraudulent accounting," with Simi Kedia, Review of Financial Studies, June 2009, Brennan & BlackRock Award 2010
  12. "Estimating Risk-Adjusted Costs of Financial Distress," with Heitor Almeida, Journal of Applied Corporate Finance, 2008
  13. "The risk-adjusted cost of financial distress," with Heitor Almeida, Journal of Finance, December 2007, lead article, Brattle Prize 2008
  14. "Firms and aggregate dynamics," with Francesco Franco, Review of Economics and Statistics, November 2007
  15. "Corporate governance over the business cycle," Journal of Economic Dynamics and Control, November 2006
  16. "CEO incentives and earnings management," with Daniel Bergstresser, Journal of Financial Economics, June 2006
  17. "The rise in firm-level volatility: causes and consequences," with Diego Comin, NBER Macroannuals, 2005
  18. "The impact of differential payroll tax subsidies on minimum wage employment", with Francis Kramarz Journal of Public Economics, 2001



  1. ^ a b Philippon, Thomas (2003). Three essays in macroeconomics (PDF) (Ph.D.). MIT. Retrieved 27 November 2016.
  2. ^ "IDEAS Profile: Thomas Philippon".
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External links[edit]