The Banque de France’s research patronage takes two forms: through its Research Foundation, it encourages the production of economic research, which is considered a public good; through its university partnerships, it supports leading French research centres and fosters collaborations between academia and its own research staff.
The Banque de France Foundation for Research in Monetary, Financial and Banking Economics was set up as a public interest organisation in 1995. Its purpose is to encourage economic research and to develop synergies between the Banque de France and the academic and financial worlds. Each year, the Foundation awards grants to international teams of researchers, and invites visiting scholars from foreign institutions to work on joint projects with Banque de France staff. It also awards a Young Researcher Prize and a Monetary, Financial and Banking Thesis Prize, and supports research symposiums and associations specialising in monetary, financial and banking economics.
As part of its sponsorship work, the Banque de France has set up close partnerships with various leading academic institutions.
Toulouse School of Economics (TSE)
Since 2007, the Banque de France and the Toulouse School of Economics have worked in partnership to foster excellence in French academic research and place themselves at the forefront of international economic debate. In 2012 the two institutions launched a series of joint prizes in the fields of monetary economics and finance: every two years, a junior and senior prize are awarded to university researchers who have developed fundamental concepts to increase our understanding of monetary economics, finance and bank supervision. The prizes single out research that helps to improve the way central banks operate. Moreover, the profile of the awards has been raised considerably by the recent attribution of the Nobel Prize in economics to Bengt Holmstrom, a winner of the BdF-TSE prize in 2012.
As part of the partnership, the Banque de France also supports the TSE doctoral programme by allowing PhD students to carry out scientific traineeships at the bank, under the joint responsibility of their TSE PhD supervisor and a Banque de France researcher. The Banque de France and TSE also regularly organise joint seminars in Paris.
The Banque de France’s partnership with the Paris School of Economics takes the form of a research chair which was inaugurated in September 2009. The initiative stems from a shared desire to stimulate scientific analysis on international topics, and aims to promote research on macroeconomics and the architecture of the global monetary and financial system.
The Banque de France set up a partnership with Sciences Po's Department of Economics in March 2012, and in 2015 renewed the collaboration for a further three years. Under the initiative, the bank has helped to finance the rapid development of the fledgling department. In turn, it has benefited from increased exchanges with faculty members, enabling it to raise the profile and quality of its own research. More recently, the partnership has led to the organisation of joint international conferences and the creation of a monthly research seminar on banking and financial regulation.
The Banque de France and FERDI have worked together for many years, covering issues related to development financing, economic and financial integration in Africa - notably in French-speaking countries - and the role of financial markets in development. The partnership has given rise to research collaborations and joint publications, and to the organisation of biennial international conferences.
The Banque de France and the Aix-Marseille School of Economics have always enjoyed close ties, but in 2012 decided to strengthen their partnership further by creating a joint annual conference on labour markets, which takes place alternately in Paris and Marseille. The Banque de France also regularly offers internships to AMSE students, as well as welcoming PhD students and faculty members on secondment or to work as consultants. In turn, a number of Banque de France staff teach at AMSE.
The Risk, Regulation and Systemic Risk Research Initiative, also known as the ACPR Regulation and Systemic Risk Chair, is a joint initiative set up with GENES (a French economics and statistics school and research institute comprising ENSAE, ENSAI and CREST), HEC Paris and the Fondation du Risque. Its purpose is to promote research activities, facilitate interaction between the ACPR and the academic community, and act as an international think-tank for proposals on the management of systemic risk. The main focus of research is the exploration of macroprudential issues using microprudential data. For the ACPR, the aim is to contribute to advances in financial regulation by bringing together renowned French and international researchers to work on new quantitative approaches. As well as stimulating public debate, the research helps to improve the measurement and control of systemic risk in the financial sector, and hence to safeguard financial stability.
Updated on: 05/15/2019 15:19