Eric Vansteenberghe

Economist and researcher at the Research and Risk Analysis Directorate (ACPR)

Senior Research Economist – Expert in Financial Economics

Eric Vansteenberghe is a Senior Research Economist at the Banque de France in the Directorate for Statistics, Economics and International Affairs (DSEI). He holds a Ph.D. in Economic Theory from the Paris School of Economics (2023) and joined the Banque de France in 2015, after an earlier career in the defence industry and research activities at the Autorité de Contrôle Prudentiel et de Résolution (ACPR). His research combines theoretical and empirical approaches to understand how uncertainty, risk, and financial intermediation influence monetary policy transmission. He develops models linking expectations and financial behavior, from belief-driven bank lending to insurance market resilience under climate risk. These frameworks are complemented by empirical analyses using granular data on banks and insurers to study credit allocation and risk sharing.
In addition to his research activities, Eric teaches at Université Paris 1 Panthéon-Sorbonne in the Master Finance – Technology – Data program.

Research Economist, Banque de France (since 2015) – monetary policy, financial intermediation, and insurance markets.
Lecturer in Financial Economics, Université Paris 1 Panthéon-Sorbonne (since 2016).
Financial Supervisor, European Central Bank – Single Supervisory Mechanism (2016).
Equity Research Analyst, Kepler Cheuvreux (2015).
Financial Supervisor, Banque de France – ACPR (2014).
Project / Procurement Manager, OHB System, Bremen (2010–2013).
Procurement Manager, Airbus Defence and Space (Astrium), Portsmouth (2008–2010) – held various positions in the satellite communications industry.

Ph.D. in Economics, Paris School of Economics (2019–2023) — Three Essays in Banking and Insurance (Supervisor: Catherine Bobtcheff).
Master of Science in Analysis and Policy in Economics, Paris School of Economics (2013–2015) — Concentration in Quantitative and Theoretical Monetary Economics.
Master of Science in Astronautics and Space Engineering, Cranfield University (2007–2008) — Thesis on lunar mission vehicle design at the University of California, Irvine.
Master of Science in Engineering, ISAE-Supaero (2004–2008) — Major in Flight Dynamics and Control.

Banque de France Publications

“Public-Guaranteed Loans, Bank Risk-Taking and Regulatory Capital Windfall” with Théo Nicolas and Stefano Ungaro, ACPR Débats Economiques et Financiers No. 41, June 2023.

Beaumont, Paul, Huan Tang, and Eric Vansteenberghe. Collateral effects: the role of FinTech in small business lending. The Review of Financial Studies (2025).
Eric Vansteenberghe. Insurance Supervision under Climate Change: A Pioneers Detection Method”. Geneva Papers on Risk and Insurance - Issues and Practice (2025).
Nicolas, Théo, Stefano Ungaro, and Eric Vansteenberghe. Public Guaranteed Loans and Bank Risk-Taking. Journal of Financial Services Research (2025).

“Literature review on financial technology and competition for banking services” Hein Bogaard, Sebastian Dörr, Nicole Jonker, Hua Kiefer, Onur Koltukcu, Calixto Lopez, José Renato Haas Ornelas, Ricky Rambharat, Sigrid Röhrs, Federica Teppa, Frans van Bruggen, and Eric Vansteenberghe. BIS working paper.
“Exposures through common portfolio and contagion via bilateral cross holdings among funds, banks and insurance companies” Edouard Chrétien, Pierre-Emmanuel Darpeix, Sébastien Gallet, Laurent Grillet-Aubert, Guy Lalanne, Anna Malessan, Marko Novakovic, Dilyara Salakhova, Brice Samegni-Kepgnou, and Eric Vansteenberghe. Haut Conseil de Stabilitè Financière Working Papers, June 2020.

Eco Notepad Credit

11th of April 2024