Valerio Scalone

Valerio Scalone
Valerio Scalone is a research economist at Banque de France, in the Macro-prudential policy Division-Directorate for the Financial Stability. After his PhD at LUISS University-Rome, he has been post-doctoral fellow at University of Rome "La Sapienza" and at HEC Montréal. His research interests lie in the field of applied macroeconomics, macro-prudential policy and macro-econometrics. In particular he focuses on financial frictions, the role of non-linearities in the propagation of financial shocks and on the estimation of non-linear macroeconomic models.


PhD in Economics (Luiss University, Rome, 2010-2015), visiting scholar (London Business School, 2013), visiting scholar (University of Pennsylvania, 2014), visiting student (Einaudi Institute for Economics and Finance-EIEF , 2011-2012), B.A. and M.Sc. in Economics (Luiss University, Rome, 2004-2010).

Current Position

Research economist, Macro-Prudential Service, Financial Stability Directorate, Directorate of Financial Stability and General Operations.

Previous Position

Post-doctoral Fellow at HEC Montréal (2016), Post-doctoral Fellow at University of Rome “La Sapienza” (2015), PhD Intern at Bank of England (2014). 

Research Interest

Applied Macroeconomics, Macroeconometrics, Macro-prudential policy


+33 (0)1 42 92 60 57

Banque de France, 35-2341 DGSO-DSF-SMP, 75049 Paris Cedex 01, France  

Publications Working Paper Series no. 864:

Assessing the Impact of Basel III: Evidence from Structural Macroeconomic Models

By De Bandt Olivier, Bora Durdu, Hibiki Ichue, Mimir Yasin, Jolan Mohimont, Nikolov Kalin, Sigrid Roehrs, Sahuc Jean-Guillaume, Scalone Valerio, Michael Straughan
  • Published on 02/02/2022
  • 38 pages
  • EN
  • PDF (4.35 MB)
Publications Working Paper Series no. 830:

Risk-to-Buffer: Setting Cyclical and Structural Capital Buffers through Banks Stress Tests

  • Published on 09/08/2021
  • 43 pages
  • FR
  • PDF (2.24 MB)
Publications Working Paper Series no. 763:

How does Financial Vulnerability amplify Housing and Credit Shocks?

  • Published on 04/20/2020
  • 34 pages
  • EN
  • PDF (2.21 MB)
Publications Working Paper Series no. 724:

ALIENOR, a Macrofinancial Model for Macroprudential Policy

By Couaillier Cyril, Ferrière Thomas, Scalone Valerio
  • Published on 07/18/2019
  • 35 pages
  • EN
  • PDF (2.92 MB)
Publications Banque de France Bulletin no. 222:

Activation of countercyclical capital buffers in Europe: initial experiences

Thematic: Financial stability and financial system
  • Published on 05/17/2019
  • 10 pages
  • EN
  • PDF (371.25 KB)
Publications Working Paper Series no. 688:

Estimating Non-Linear DSGEs with the Approximate Bayesian Computation: an application to the Zero Lower Bound

  • Published on 08/10/2018
  • 50 pages
  • EN
  • PDF (1001.84 KB)
Publications Working Paper Series no. 648:

An analytical framework to calibrate macroprudential policy

By Bennani Taryk, Couaillier Cyril, Devulder Antoine, Gabrieli Silvia, Idier Julien, Lopez Pierlauro, Thibaut Piquard, Scalone Valerio
  • Published on 10/26/2017
  • 86 pages
  • EN
  • PDF (3.16 MB)
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Updated on: 03/05/2019 09:48