Research in the News
Professor Thomas Philippon's research on the efficiency of the financial industry
— July 1, 2016
Excerpt from Forbes -- "In a recent paper, Thomas Philippon from New York University finds the annual cost of financial intermediation in the U.S., which is roughly 2%, is the same now as it was in the late nineteenth century. This leads him to conclude that the US finance industry has showed no efficiency gains at all over 130 years."