Dermot Murphy is an assistant professor of finance at the University of Illinois at Chicago who specializes in public finance, fixed income, and high-frequency trading. His current research, coauthored with Pengjie Gao from the University of Notre Dame and Chang Lee from the University of Illinois at Chicago, examines the effect of local newspaper closures on public borrowing costs through the government inefficiency channel. His past research has examined how state government policies for assisting financial distressed municipalities affect public borrowing costs.