My research interests spanned over the theory and history of money, and the study of the the trade of assets against money either by central banks with their collateral framework or with Central Clearing Counterparties – CCP.
I am attached with the Banque de France since 2011, now acting as the advisor of the General Director of Research and International Relations. Since I joined the staff, I acted two years as deputy head of the microeconomic analyses division, after having spent four years in the monetary policy research division and a year in secondment with the directorate supervising payment system infrastructures and central clearing counterparties in the Directorate General for Financial Stability and Operations.
Before joining the Bank of France, I had been an associate professor at the University of Paris East from 2003 to 2006, at Sciences Po in Paris from 2006 to 2009 and at the Graduate Institute for International and Development Studies in Geneva from 2009 to 2011. I also held visiting positions at the University of Pennsylvania in Philadelphia, at the Bernoulli Center of the University of Basel, at ,the Marc Bloch Institute in the Humboldt University in Berlin and at George Mason University in Virginia.
Advisor to the General Director of Research and International Relations
Deputy head of the Microeconomic Analysis Unit of Banque de France (2016-2018) – Research secondment in the division supervising payment system and market infrastructures (2015-2016) – Macroéconomist in the Monetary Policy Study Unit – Banque de France (2011-2016) – Visiting lecturer, Graduate Institute for International and Development Studies (2009–2011) – Adjunct professor Sciences Po (2005–2009) – Associate professor (with tenure), University of Paris Est Créteil (2003–2014) – Visiting scholar University of Pennsylvania (2002-2003)
Ph.D. in Economics, Ecole Polytechnique (2002) – Master in Economics (D.E.A.) University of Paris West Nanterre (1997) – B.A in History, La Sorbonne (1995) – B.A. in Economics and Management, La Sorbonne (1994) – Agrégation in economics, business and accounting (1996) – E.N.S. Cachan (1993-1997)
Monetary and financial economics, economic history
+33 (0)1 42 92 43 30
Banque de France, DGEI 49-1430 ; 31, rue des Petits Champs, 75049 Paris Cedex 01, France
The Failure of a Clearinghouse: Empirical Evidence, with Guillaume Vuillemey, forthcoming Review of Finance
Currency Union with and without Banking Union, with Régis Breton and Mariana Rojas-Breu, International Economic Review, forthcoming May 2019.
The Other Way: A Narrative History of Banque de France, with Marc Flandreau, chapter 6 dans l’ouvrage Sveriges Riksbank and the History of Central Banking, éditeurs Rodney Edvinson, Tor Jacobson, Daniel Waldenstrom, Cambridge University Press, p. 206-241, April 2018
Whither Economic History? Between Narratives and Quantification, with Pamfili Antipa, Revue de l’OFCE 153, p. 19-41, December 2017.
Illiquid Collateral and Bank Lending during the European Sovereign Debt Crisis, with Jean Barthélemy and Benoit Nguyen, Economics and Statistics 495-496, p. 111-130, October 2017.
Coin Assaying and Commodity Money, with Richard Dutu, Macroeconomic Dynamics, 21(6), p. 1305-35, September 2017.
Stealing to Survive? Crime and Income Shocks in 19th Century France (2016), with Eve Caroli et Roberto Galbiati, The Economic Journal 127(599), p. 19-49, February 2017.
Big Push or Big Grab? Railways, Government Activism and Export Growth in Latin America, 1865-1913, with Rui Esteves et Alfonso Herranz-Loncán, The Economic History Review, 68(4), pp. 1277-1305, November 2015.
The Price of Media Capture and the Debasement of the French Newspaper Industry during the Interwar, with Marc Flandreau, The Journal of Economic History 74(3), pp. 799-830, September 2014.
L. Walras and C. Menger: Two Ways on the Path of Modern Monetary Theory, with Andrés Alvarez, The European Journal of the History of Economic Thought, 20, pp.89-124, 2013.
Bagehot for Beginners: The Making of Lending of Last Resort Operations in the Mid-19th Century, with Marc Flandreau and Stefano Ugolini, The Economic History Review, 65, (2), pp. 580-608, May 2012.
The Economics of Badmouthing: Libel Law and the Underworld of the Financial Press in France Before World War I, with Marc Flandreau, The Journal of Economic History 71(3), pp. 615-653, September 2011.
Medias Bias in Financial Newspapers: Evidence from Early 20th Century France, with Antonio Miscio, European Review of Economic History, 14(3), pp. 383-432, December 2010.
Une Théorie de l'Election de la Cigarette Comme Monnaie, Revue Économique 55(3), pp. 383-93, May 2004.
Note sur l'Origine de la Monnaie dans les Modèles de Search, with Régis Breton, Revue Économique 54(3), pp. 465-474, May 2003.
Les développements récents des modèles de search monétaire : Monnaie et formalisations des transactions, with Claire Compain, Revue d’Économie Politique 111(3), pp. 347-375, 2001.
Intermédiation et Structure des Marchés, with Régis Breton, Revue d’Économie Politique 111(3), pp. 401-422, 2001.
Interbank market and central bank policy (2016), avec Jung-Hyun Ahn, Régis Breton et Antoine Martin, Staff Reports 763, Federal Reserve Bank of New York.
Protectionism and the Education-Fertility Trade-off in Late 19th Century France (2016), avec Cecilia García-Peñalosa, Document de travail 2016-04 Aix Marseille School of Economics.
The Price of Media Capture and the Looting of Newspapers in Interwar France, (2012), avec Marc Flandreau, IHEID working paper, CEPR discussion paper 9014.
Stealing to Survive: Crime and Income Shocks in 19th Century France, (2012), avec Eve Caroli et Roberto Galbiati, PSE working paper PSE 2011-33, Janvier.
L. Walras and C. Menger: Two ways on the path of modern monetary theory (2010), avec Andrés Alvarez, EconomiX Working Papers 2010-25.
The Economics of Badmouthing: Libel Law and the Underworld of the Financial Press in France before World War I (2010), avec Marc Flandreau, EconomiX Working Papers 2010-18 and IHEID Working Papers 15-2010.
Bagehot for beginners: The making of lending of last resort operations in the mid-19th century (2009) avec Marc Flandreau et Stefano Ugolini, Working Paper 2009/22, Norges Bank.
Cigarette Money and Black Market Prices around the 1948 German Miracle (2009), EconomiX Working Papers 2009-2.
Media Bias in Financial Newspapers: Evidence from Early 20th Century France (2009), avec Antonio Miscio, EconomiX Working Papers 2009-4.
Moneychangers and Commodity Money (2006), avec Richard Dutu, EconomiX Working Papers 2006-9
Accounting Transparency and the cost of capital (2004), avec Régis Breton, Working paper University of Orléans – LEO 2004-06.
Middlemen as a Separating Device (2001), avec Régis Breton, Documents du CREA 04-2001.
Updated on: 02/26/2019 10:53