Research in the News
Research by Prof. Thomas Philippon finds the financial industry less efficient than in the past
— May 23, 2012
Excerpt from The New York Times -- "In fact, for all its innovation, the financial industry of today is less efficient than it was in the age of the railway, according to research by Thomas Philippon at New York University. That is, it charges the rest of society more for financial intermediation than it did 130 years ago."