Jean-Pierre Villetelle

Current Position

Monetary and Financial Statistics Directorate, Adviser (2022- )

Previous Position

• Banque de France, Companies Directorate, Observatory of Companies: Head of Division (2012-2022)
• Banque de France, Business Conditions and Macroenomic Forecasting Directorate – Macroeconomic Studies and Forecasting Division: Head of Division (2006-2012) and Adviser (2009-2012); Deputy Head of Division (2001-2006)
• European Central Bank, Directorate General Research – Economic Modelling Division: Senior economist, (1999-2000)
• Banque de France, Studies and Research Directorate – Research Center (1997-1998) and Division of Macroeconomic Studies on France (1993-1996), Economist
• Ministry of the Economy, Finance and Budget – Forecasting Directorate: Economist (1990-1993)

Diploma

• BS in Mathematics (UNIVERSITE PARIS VI, 1987)
• Master degree (DEA) in Mathematical Economics and Econometrics (UNIVERSITE PARIS I, 1986)

Research Interest

Household savings and Wealth – Corporate financial position – Macroeconomic modeling – Forecasting 

Contact

• jean-pierre.villetelle@banque-france.fr
• + 33 (0) 6 88 39 83 65 / +33 (0)1 42 97 56 58
• Banque de France DGSEI-DSMF – LOV-1415, 75049 PARIS Cédex 01 - France

Academic publications

Articles

• « Immobilier et endettement des ménages en Allemagne, France, Espagne et Italie à la sortie de la crise Covid », 2024, Bulletin de la Banque de France n° 251, 1er trimestre, (with Frédérique Savignac, Sylvie Tarrieu and Franck Sédillot)
• « Health crisis: what impact on SME debt?», 2021, Eco Notepad n° 224, Banque de France, July (with Franck Lemaire, Loriane Py and Frédéric Vinas)
• “Corporate loans at particularly low rates in France," 2016. Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 41, pages 27-39, Spring (with S. Avouyi-Dovi, R. Lecat, C. O’Donnell. and B. Bureau)
• « Situation financière et financement des sociétés non financière françaises », Bulletin de la Banque de France n° 199, 1er trimestre, pp. 53-65., Mars 2015 (with Gilbert Cette)
• « L’importance du crédit interentreprises en France : la faute aux banques, aux entreprises non financières ou aux institutions ? », Décembre 2014, Entreprises et Histoire (with Serge Eveillé and Michel Lescure), pp.147-156
• "Asset price changes and macroeconomic measurement of profitability", with Gilbert Cette and Dominique Durand, in Review of Income and Wealth, Vol. 57, Issue 2, pp. 364-378, 2011
• « Improving US National Accounts Integration and Consistency : A Review Article on A New Architecture for the U.S. National Accounts » (2008), International Productivity Monitor, Number 17, Fall 
• « Structure et propriétés de cinq modèles macroéconomiques français » (1998) collaborative study, CEPREMAP, Direction de la Prévision, Erasme, INSEE, OFCE, Economie et Prévision n°121 
• « Du nouveau sur le taux d'épargne des ménages ? » (1995), with P. Sicsic, Economie et Prévision, n°121 
• « Les causes d'une récession » (1991) with É. Dubois and C. Meunier, Economie et Statistique, n° 245, juillet-août 

Others

• « Mascotte: the Banque de France forecasting model » (2005) with Olivier de Bandt and Véronique Brunhes-Lesage in The structural econometric models of euro-area central banks, Edward Elgar Publishing 
• « The effects of monetary policy in the euro area : evidence from macro economic models » (2003) with P van Els, A Locarno and J. Morgan, in Monetary Policy Transmission in the Euro Area, I. Angeloni, A. Kashyap and B. Mojon ed., Cambridge University Press 
• « Monetary Policy Transmission in the Euro Area : What do Aggregate and National Structural Models tell us ? », (2001) with P van Els, A Locarno and J. Morgan, ECB Working Paper, n° 94