# Professor Thomas Philippon and PhD student Germán Gutiérrez's joint research on competition in European financial markets is featured

1 Faculty News June 13, 2018 ![Wall Street Journal logo](/sites/default/files/styles/246w/public/assets/images/wsjlogo.jpg?itok=5Qt0z3WX)>

Excerpt from [The Wall Street Journal](https://blogs.wsj.com/economics/2018/06/13/real-time-economics-the-fed-is-expected-to-raise-rates-wednesday-then-what/) -- "'Today, European markets have lower concentration, lower excess profits, and lower regulatory barriers to entry,' Germán Gutiérrez and [Thomas Philippon](http://www.stern.nyu.edu/faculty/bio/thomas-philippon) write in a National Bureau of Economic Research working paper."

[Read more](https://blogs.wsj.com/economics/2018/06/13/real-time-economics-the-fed-is-expected-to-raise-rates-wednesday-then-what/)