Juan Carluccio

Scientific Advisor, Directorate of International Economics and Cooperation

Juan Carluccio

Current Position

  • Scientific Advisor, Directorate of International Economics and Cooperation
  • Co-Director, Competitiveness Group at DGSEI
  • Steering Member Comitté, Chair Banque de France – PSE.

Previous Position

  • Research Director, Trade Secretariat of Argentina (2018-2019) 
  • Research Economist, Directorate of Microeconomic and Structural Issues (2010-2017)
  • Post-doctoral Fello, Collège de France (2009-2010)
  • Junior Economist, Ministry of Economy of Argentina (1998-2002)


  • PhD in Economics, École des Hautes Études en Sciences Sociales
  • Master in Economics, London School of Economics
  • Bachelor in Economics, Universidad de Buenos Aires

Research Interest

International Trade and Investment, Latin-American Macroeconomics


Academic Publications

  • “Dissecting the Impact of Imports from Low-Wage Countries on Inflation,” with Erwan Gautier and Sophie Guilloux-Nefussi, European Economic Review, forthcoming.  
  • “Private firms, corporate investment and the WACC: evidence from France”, with Clément Mazet-Sonilhac and Jean-Stephane Mesonnier, The European Journal of Finance, lead article, pp 1-25, 2021.
  • “La crise de la dette argentine et ses racines”, with Rafael Cezar, Revue d’économie financière, 2021/1, 140.
  • “Offshoring and Skill Upgrading in French Manufacturing,” with Alejandro Cunat, Harald Fadinger, and Christian Fons-Rosen,  Journal of International Economics, 2019, 118, 138-159 
  • “Fragmentation and Wage Inequality: Insights from a Simple Model,” with Ivar Ekeland and Roger Guesnerie, Annals of Economics and Statistics, Special issue in Honor of E. Malinvaud, 2017, Nr 125 / 126, pp. 113-134.
  • “L’Argentine après le défaut : conditions d’accès aux marchés internationaux de capitaux et choix de politiques économiques « non conventionnelles »”, with Julio Ramos-Tallada, Revue d’économie financière, 2016, 124. PDF
  • “Trade, Wages, and Collective Bargaining: Evidence from France,” with Denis Fougère and Erwan Gautier, The Economic Journal, 2015, 584, 803-837. 
  • “The Impact of Worker Bargaining Power on the Organization of Global Firms,” with Maria Bas, Journal of International Economics, 2015, 96(1),162-181.
  • “Foreign Entry and Spillovers with Technological Incompatibilities in the Supply Chain,” with Thibault Fally, Journal of International Economics, 2013, 90(1), 123-135. 
  • “Global Sourcing under Imperfect Capital Markets,” with Thibault Fally, The Review of Economics and Statistics, 2012, 94(3), 740-763.
  • “How Globalisation Affects Inflation”, with Olivier de Bandt, Bulletin de la Banque de France, June 2022.  Version française: “La mondialisation et ses répercussions sur l’inflation”.
  • Large firms react more strongly to macro shocks, and it matters, Vox.eu, July 2022.
  • Conducting Monetary Policy in an Interconnected World, with de Bandt, Lodge and Perez,  Banque de France Blog, N. 247, December 2021. Version française
  • Globalisation and inflation: Insights from the ECB strategy review, Vox.eu, October 2021.
  • The collapse of French exports in the Covid crisis: mainly those of large business units, Banque de France Blog, N. 238, December 2021
  • “The implications of globalisation for the ECB monetary policy strategy”, Work stream on globalisation, European Central Bank Occasional Paper Nr 263, September 2021. 
  • Global value chains and the challenge of Covid-19,  Banque de France Blog, N. 177, August 2020. 
  • What does recent research tell us about the pains and gains of globalisation?, Research Newsletter, April 2018