Benoit Nguyen

Benoit Nguyen

Team Lead Economist, PhD

European Central Bank

Welcome to my website! I started my career in central banks in 2009 and became a researcher primarily investigating the effects of monetary policy on financial markets. I’m currently hosted by the European Central Bank in the Senior Management team of the DG-Market Operations, where I’m working on topics related to monetary policy implementation and market functioning. I held several positions at Banque de France and the ECB, at the crossroads between monetary policy operations and academic research. I have a PhD in Economics from Paris 1 Pantheon-Sorbonne University. My research focuses on money market, fixed income, portfolio allocation and the impact of supply and demand in asset pricing. My papers on how QE modified investors’ portfolio, and on how central bank purchases affect the repo market have been published in the Journal of Financial Economics. Recently, I have also worked on digital finance and the link between stablecoins and traditional financial markets.

Experience

 
 
 
 
 
European Central Bank
Team Lead Economist - DG-Market Operations
European Central Bank
October 2023 – Present Germany
Part of the Senior Management team, in charge of quantative analysis and analytical projects related to market functioning and monetary policy implementation
 
 
 
 
 
Banque de France
Senior Research Economist - DG-Research
Banque de France
January 2019 – October 2023 Paris

Monetary policy and financial studies division:

  • Co-lead of the Eurosystem’s Review of the Operational Framework on the demand for reserves.
 
 
 
 
 
European Central Bank
Economist - DG-Monetary Policy Strategy
European Central Bank
February 2019 – September 2018 Germany
ESCB/IO secondment
 
 
 
 
 
Banque de France
Research Economist - DG-Research
Banque de France
September 2013 – February 2019 Paris
Monetary policy and financial studies division
 
 
 
 
 
Banque de France
Market Operations Expert - DG-Market Operations
Banque de France
February 2009 – September 2013 Paris
Cross-market monitoring, FX and monetary policy implementation

Peer-reviewed publications

(2020). Inspecting the mechanism of quantitative easing in the euro area. Journal of Financial Economics, Available online 21 November 2020.

Cite DOI Article

(2020). The Scarcity Effect of Quantitative Easing on Repo Rates: Evidence from the Euro Area. Journal of Financial Economics, Volume 137, Issue 3, September 2020, Pages 837-856.

Cite DOI Article

Working papers