Twenty-Second Luca d’Agliano Lecture in Development Economics: “Regulating Market Power and Big Tech on the Two Sides of the Atlantic” by Thomas Philippon (Stern School of Business, New York University), 31st May 2024 at 12:00 p.m. (CET), CCA

TWENTY-SECOND LUCA D’AGLIANO LECTURE IN DEVELOPMENT ECONOMICS

“Regulating Market Power and Big Tech on the Two Sides of the Atlantic”, by Thomas Philippon (Max L. Heine Professor of Finance, Stern School of Business, New York University)

The Twenty-Second Luca d’Agliano Lecture in Development Economics by Thomas Philippon (Stern School of Business, New York University) took place on Friday, 31st May 2024 at 12:00 p.m. (CET) at the Fondazione Collegio Carlo Alberto (Turin).

You can find the slides of the Lecture here.

Programme

Abstract: In the 1990s and early 2000s the common wisdom was that US markets were competitive, while EU markets were not. European competition policy has improved significantly over the past two decades, to the point that many goods and services (e.g., telecoms, travels) are now better priced in the EU than in the US. The Single Market has also provided real benefits to EU consumers. Productivity growth, on the other hand, has been disappointing and regulating the tech industry is both difficult and risky. Increased geopolitical risks and the need to finance the green transition have also cast doubt on the effectiveness of the EU economic framework. This lecture will discuss the principles that should guide competition and trade policy in the age of AI and US-China rivalry.

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. He was elected Fellow of the Econometric Society in 2020. 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 co-editor of the Journal of Finance. He is a member of the Conseil d’analyse économique of the French government and of the Financial Advisory Roundtable of the New York Federal Reserve Bank. He was previously an advisor to the Financial Stability Board and to the Hong Kong Institute for Monetary and Financial Research, a board member of the French prudential regulatory authority from 2014 to 2019, and the senior economic advisor to the French finance minister from 2012 to 2013. Philippon graduated from Ecole Polytechnique, received a PhD in Economics from MIT, and joined New York University in 2003.

 

This year the Luca d’Agliano Lecture is organised within the framework of the Festival Internazionale dell’Economia

 

In collaboration with Fondazione Collegio Carlo Alberto