Centre for Economic Policy Research
Bail-Ins and Bank Resolution in Europe: A Progress Report
Key Metrics
- Thomas Philippon
- Centre for Economic Policy Research
- Paperback
- 9781912179008
- 10.8 X 8.3 X 0.2 inches
- 0.44 pounds
- Business & Economics > Banks & Banking
- English
Secure TransactionBook Description
The 4th Special Report in the Geneva Reports on the World Economy series reviews the current status of bail-ins and bank resolution in Europe. It first provides a critical comparison of the US and EU bank resolution rules, including the underlying similarities, differences and enhancement points of both frameworks. It then goes on to focus on European banking failures, providing estimates of taxpayer costs and considering the hypothetical application of stronger private sector bail-in consistent with the spirit of the Bank Resolution and Recovery Directive. The report ends with a number of policy recommendations concerning governance, stress testing, cross-border issues and resolution of financial contracts.
Author Bio
Thomas Philippon is the Max L. Heine Professor of Finance at New York University, Stern School of Business. Philippon was named one of the “top 25 economists under 45” by the IMF in 2014. He has won the 2013 Bernácer Prize for Best European Economist under 40, the 2010 Michael Brennan & BlackRock Award, the 2009 Prize for Best Young French Economist, and the 2008 Brattle Prize for the best paper in Corporate Finance.
Philippon has studied various topics in macroeconomics and finance: systemic risk and financial crisis, the dynamics of corporate investment and household debt, financial innovation and financial regulation, Eurozone crisis. His recent book “The Great Reversal” (Harvard Press, 2019) focuses on the increasing market power of large firms.
He currently serves as an academic advisor to the Financial Stability Board and to the Hong Kong Institute for Monetary and Financial Research. He was previously an advisor to the New York Federal Reserve Bank, a board member of the French prudential regulatory authority from 2014 to 2019, and the senior economic advisor to the French finance minister in 2012- 2013.
Philippon graduated from Ecole Polytechnique, received a PhD in Economics from MIT, and joined New York University in 2003.
Research Interests
Macroeconomics
Corporate finance
Business cycles
Earnings management
Unemployment
Courses Taught
Corporate Finance Topics
Risk Management in Financial Institutions
Education
- Ph.D., Economics, 2003 -Massachusetts Institute of Technology
- M.A., Economics, 1998 - Delta-Ehess, France
- M.A., Physics, 1997 - Ecole Polytechnique, France
Source: NYU Stern
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