Biography

I hold a PhD  in Economics at the Paris School of Economics (PSE), where I have conducted my research under the supervision of Jean Imbs from 2010 until now.
My research interests include macroeconomics, monetary economics, banking and public economics. My theoretical work relies on a micro-funded model of banking in which regulation can be studied.
My thesis focuses on the optimality of regulation. The first chapter includes a model explaining why banks do not keep enough liquid reserves and why the banking sector is too large relative to a non-banking sector corresponding to long-term investment by households, such as pension funds. I show that the Basel III Liquidity Coverage Ratio can help to alleviate the first inefficiency, while worsening the second. In the second chapter, I introduce shadow banking. I show that liquidity ratios can be used to choose a relative optimal size of the traditional banking sector and of the shadow banking sector. Shadow banking is riskier but may be more efficient because of the threat of bank runs, acting as a disciplinary device on the managers of shadow entities. Finally, my third chapter includes an empirical study evaluating the size of shadow banking in the Euro Area.
During my time at PSE, I have taught undergraduate Macroeconomics and European Policies courses. Besides my MSc in Economics, I graduated from the French Grande Ecole HEC and obtained an MA in Law at the University Paris 2 Panthéon-Assas.