Jérôme Coffinet

Jerome Coffinet is Deputy director Data, Analytics and AI. Previously, he held various positions in the fields of statistics and data, monetary policy, financial stability and banking supervision. He is currently a member of international working groups on data, identifiers and the IREF-CDM project. He holds a PhD in Economics and Masters in Physics, Public Administration and Econometrics.

Current Position

Deputy director Data and Analytical Services

Previous Position

Head of the statistical studies division of the Autorité de contrôle prudentiel et de résolution ; Head of the data science studies division, Directorate of the Chief Data Officer ; Head of the statistical methods and engineering division, Directorate general statistics ; Deputy Head, Macrofinance Division, Financial Stability Department; Responsible for Risk Modeling and Stress Testing Unit, Banking Studies Division ; Economist, Monetary Policy Research Division

Diplomas

• PhD in Economics, University Paris 1 Panthéon-Sorbonne, 2025
• Master Econometrics, Paris School of Economics, 2007
• Master Public Affairs (« Diploma »), Institut d'Etudes Politiques de Paris, 2003
• MSc Physics and Chemistry (Ingénieur de l'ESPCI-Paristech), 2002

Research Interest

Banking and monetary economics, macroeconomics, finance, statistics

Contact

• jerome.coffinet@acpr.banque-france.fr
• +33 (0)1 42 44 56 05
• LOV-2503, 37 rue du Louvre, 75002 Paris

Academic Publications

Articles

• “Relationship Banking: an Asset for Financing Small and Medium-Sized French Companies in Periods of Crisis» (2023), with Théo Nicolas, Revue d'économie financière, Association d'économie financière, vol. 0(2), pages 75-88.
• “Relationship lending and SMEs’ funding costs over the cycle: why diversification of borrowing matters” (2022), with Mikael Beatriz and Théo Nicolas, Journal of Banking & Finance, Elsevier, vol. 138(C).
• “Household preferences and demand for stocks in the Crisis: France 2004-2014” (2019), with Luc Arrondel, Revue d'économie politique, Dalloz, vol. 129(3), pages 391-417.
• “Detection of rare events: A machine learning toolkit with an application to banking crises” (2019), with Jean-Noël Kien, The Journal of Finance and Data Science, Volume 5, Issue 4, December 2019, Pages 183-207.
• “French household wealth and debt in 2015: Findings from the European HFCS survey and international comparisons” (2019), with Luc Arrondel, Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 49-75.
• “Is the Office Market Overvalued? A Simple Framework Applied to France” (2019), with Etienne Kintzler, International Real Estate Review, Global Social Science Institute, vol. 22(2), pages 275-306.
• “The Dynamics of Households’ Wealth According to the Age and the Generation in France and Eurozone” (2018), with Luc Arrondel, Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 147-177.
• "Household financial exclusion in the Eurozone: the contribution of the Household Finance and Consumption survey" (2017), with Christophe Jadeau, IFC Bulletins chapters, in: Bank for International Settlements (ed.), Data needs and Statistics compilation for macroprudential analysis, volume 46, Bank for International Settlements.
• "Housing financing in France and the financial crisis" (2014), with Jérémi Montornès, Revue d’économie financière, n°115 (3-2014).
• "Stress tesing banks’ profitability : the case of French banks" (2013), with Surong Lin, Journal of Financial Perspectives, EY Global FS Institute, EY Global FS Institute, vol. 1(2), pp. 67-80.
• "Monitoring Financial Distress in a High-Stress Financial World: The Role of Option Prices as Bank Risk Metrics" (2013), with Adrian Pop and Muriel Tiesset, Journal of Financial Services Research, Volume 44, Issue 3, pp. 229-257.
• "Two-way interplays between capital buffers and credit growth: Evidence from French banks" (2012), with Virginie Coudert, Adrian Pop and Cyril Pouvelle, Journal of International Financial Markets, Institutions and Money, Volume 22, Issue 5, pp. 1110-1125, December.
• "Market-based Measures of Inflation Expectations in the Euro Area" (2011), with Sébastien Frappa, in Inflation, Deflation and Disinflation, Nova Publishers, Chapter 4, pp. 109-125.
• "Determinants of the Inflation Compensation Curve in the Euro Area" (2010), with Sébastien Frappa, The European Journal of Finance, Volume 16, Issue 8, pp. 769-783, December (in French). 
•  "Mitigating the procyclicality of capital requirements: an empirical assessment of CEBS’s proposals" (2010), with Nicolas Dumontaux and Anissa Naouar, Banks and Bank Systems, Volume 5, Issue 3, pp. 29-32, September. 
•  "Euro area yield curve reaction to monetary news" (2010), with Sylvain Gouteron, German Economic Review, Volume 11, Issue 2, pp. 208-224, May. 
•  "A structural evaluation of the sacrifice ratio in the euro area" (2009), with Céline Poilly, Revue d’Economie Politique, March-April (in French). 

Other articles

• “A specific regulatory framework for global systemically important banks” (2023), with Amandine Araujo and Karim El Fathi, July-August 2023.
• « Large French banking groups are increasingly concentrating their international activities in the euro area» (2022), with Isabelle Bottineau and Chloé Le Meur, July-August 2022.
• « The French life insurance market during the health crisis » (2021), with Saïda Baddou, Cécile Fraysse and Stéphane Jarrijon, November-December 2021.
• « Covid-19 and house prices in the UK: what can be learned from web-scraping data? » (2021), with Jean-Charles Bricongne, Nicolas Chatelais, Étienne Kintzler, Baptiste Meunier and Sylvain Pouget, May-June 2021.
• « Tracking the economy during the Covid-19 pandemic:the contribution of high-frequency indicators » (2020), with Jean-Charles Bricongne, Jean-Brieux Delbos, Vojtech Kaiser, Jean-Noël Kien, Etienne Kintzler, Ariane Lestrade, Baptiste Meunier, Michel Mouliom and Théo Nicolas, Bulletin de la Banque de France, September-October 2020.
• « Wealth and debts of households in France, Germany and Italy before the Covid‑19 crisis » (2020), with Bertrand Garbinti, Michel Mouliom and Frédérique Savignac, Bulletin de la Banque de France, July-August 2020.
• « Relationship lending and SMEs’ funding costs over the cycle: why diversification of borrowing matters » (2018), with Mikael Beatriz and Théo Nicolas, Banque de France working paper, December 2018.
• « Commercial real estate: is there a risk of a financial bubble? » (2018), with Thomas Ferrière and Dorian Henricot, Bulletin de la Banque de France, September-October 2018.
• Recent developments in the consumer credit" (2016), with Christophe Jadeau and Simon Périllaud, Bulletin de la Banque de France, November-December 2016.
• "Consumer credit: recent trends and profile of borrowers" (2015), (in French), with Christophe Jadeau, Banque de France Bulletin, November-December 2015.
•  "Two-way interplays between capital buffers, credit and output: evidence from French banks" (2011), with Virginie Coudert, Adrian Pop and Cyril Pouvelle, Banque de France working paper n°316.
• "Predicting Financial Distress in a High-Stress Financial World: The Role of Option Prices as Bank Risk Metrics" (2010), with Adrian Pop and Muriel Tiesset, Banque de France working paper n°311. 
•  "Stress testing banks' profitability: the case of French banks" (2010), with Surong Lin, Banque de France working paper n°306. 
•  "Stress testing French banks' income subcomponents" (2009), with Surong Lin and Clément Martin, Banque de France working paper n°242. 
•  "Macroeconomic Surprises and the Inflation Compensation Curve in the Euro Area" (2008), with Sébastien Frappa, Banque de France working paper n°220. 
•  "Forecasting interest rates with futures contracts using macroeconomic and financial variables" (2008), Banque de France working paper n°193. 
•  "Euro Area Market Reactions to the Monetary Developments Press Release" (2007), with Sylvain Gouteron, Banque de France working paper n°183. 
•  "Structural Assessment of the Sacrifice Ratio and the Euro Area" (2007), with Julien Matheron and Céline Poilly, Banque de France working paper n°163. 
•  "Estimating the sacrifice ratio for the euro area" (2007), with Julien Matheron and Céline Poilly, Quarterly Selection of Articles, Banque de France, Summer and Monthly Digest, Banque de France, January 2007. 
•  "Sacrifice ratio and labor market rigidities" (2006), Monthly Digest, Banque de France, July 2006 (in French). 
•  "The single monetary policy and the interest rate channel in France and the euro area" (2006), in Banking in the European Union, ICFAI University Press. Earlier versions in Problèmes économiques n°2893, February 2006, Quarterly Selection of Articles, Banque de France, Autumn 2005 and Monthly Digest, Banque de France, April 2005.