Jean Barthélemy

Senior Research Economist, Financial Economics Research Division

Jean Barthélemy - Economist

Jean Barthélemy is the Deputy Head of the Financial Economics Research Division at the Banque de France. His areas of expertise include fiscal and monetary policies, macroeconomic theory, and digital finance.

Current Position

Deputy Head of the Financial Economics Research Division

Previous Position

Visiting Assistant Professor, Sciences Po
Economist in the Monetary Policy Research Division, Banque de France

Diplomas

Ph.D. in Economics, Paris School of Economics, 2011
M.A. in Economics, Paris School of Economics, 2006
M.Sc in Statistics and Economics, ENSAE, 2006

Research Interest

Fiscal and monetary policies, macroeconomic theory, and digital finance.

Contact

jean.barthelemy@banque-france.fr
+33 (0)1 42 92 21 95
Banque de France, DGEI-DEMFI-RECFIN 41-1391 , 75049 Paris Cedex 01

Academic publications

Articles

«Fiscal Dominance: Implications for Bond Markets and Central Banking», with E. Mengus and G. Plantin, Annual Review of Financial Economics (2025).
«A Unified Approach to Determinacy Conditions with Regime Switching», with M. Marx and S. Cho. Review of Economic Dynamics (2024).
«The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?», with E. Mengus and G. Plantin, Journal of Economic Theory (2024).
«Time-consistent implementation in macroeconomic games», with E. Mengus, Theoretical Economics (2024).
« Quel support monétaire pour accompagner la tokenisation financière ? », with N. Barbaroux, Revue Française d'Économie (2024).
«Monetary Policy Switching and Indeterminacy», with M. Marx, Quantitative Economics (2019).
«The signaling effect of raising inflation», with E. Mengus, Journal of Economic Theory (2018).
«Trade Balance and Inflation Fluctuations in the Euro Area», with G. Cléaud, Macroeconomic Dynamics (2018).
«Solving Rational Expectations Models», with M. Marx, in Shu-Heng Chen and Mak Kaboudan OUP Handbook on Computational Economics and Finance (2018).
«Illiquid Collateral and Bank Lending during the European Sovereign Debt Crisis», with V. Bignon and B. Nguyen, Economics and Statistics, Economics and Statistics (2017).
«Solving Endogenous Regime Switching Models», with M. Marx, Journal of Economic Dynamics & Control 77 (2017)
«A Two-Pillar DSGE Monetary Policy Model for the Euro Area», with L. Clerc and M. Marx, Economic Modeling, May 2011
«China as an integrated area? Magnitude and determinants of Business Cycles within China», with S. Poncet, Journal of Economic Integration (2008).

Others

«A State Theory of the Price Levels», with E. Mengus and G. Plantin (2025).
«DeFi-ying the Fed? Monetary Policy Transmission to Stablecoin Rates», with A. Barbon and B. Nguyen. SSRN (2023).