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Philippe Bacchetta

Contact

Director, Full Professor
Department of Economics


Contact
Philippe.Bacchetta@unil.ch
Internef, room 523
Tel 021.692.34.73

Postal address
Université de Lausanne
Quartier UNIL-Chamberonne
Bâtiment Internef
1015 Lausanne

Teaching

master International Macroeconomics
Related programme
Master of Science (MSc) in Economics
bachelor International Money and Finance
Related programmes
Bachelor of Science (BSc) in Economics
Bachelor of Science (BSc) in Management

Assistants

Katja Bergonzoli
katja.bergonzoli@unil.ch



  Brendan Berthold
brendan.berthold@unil.ch



 
Pauline Chikhani
paulin.chikhani@unil.ch
Tel: (021 692) 3677
Room: 130

  Margaret Davenport
margaret.davenport@unil.ch
Tel: (021 692) 61 33
Room: NEF 501.1

 
Di Feng
Di.Feng@unil.ch
Tel: (021 692) 36 69
Room: NEF 532

  Aleksandra Malova
aleksandra.malova@unil.ch
Tel: (021 692) 36 73
Room: NEF 556

 
Giacomo Mangiante
Giacomo.Mangiante@unil.ch
Tel: (021 692) 36.69
Room: Nef 532

  Pascal Meichtry
pascal.meichtry@unil.ch
Tel: (021 692) 36 96
Room: NEF 502

full description
 
Simon Tièche
simon.tieche@unil.ch
Tel: (021 692) 36 96
Room: NEF 502

 

Publications

72 last publications ordered by: publication type  -  year

: Peer Reviewed

Articles

Bacchetta Philippe, Benhima Kenza ; Kalantzis Yannick (2019). Money and Capital in a Persistent Liquidity Trap. Journal of Monetary Economics. Peer Reviewed


Bacchetta Philippe, Benhima Kenza ; Poilly Céline (2019). Corporate Cash and Employment. American Economic Journal: Macroeconomics, 11, 30-66. Peer Reviewed


Bacchetta P., Perazzi E. ; van Wincoop E. (2018). Self-fulfilling debt crises: What can monetary policy do?. Journal of International Economics, 110, 119-134. Peer Reviewed


Bacchetta Philippe (2018). The sovereign money initiative in Switzerland: An economic assessment. Swiss Journal of Economics and Statistics, 3, 1-16. Peer Reviewed


Bacchetta P. , van Wincoop E. (2016). The Great Recession : A Self-Fulfilling Global Panic. American Economic Journal: Macroeconomics, 8, 177-198. Peer Reviewed


Bacchetta P. , Benhima K. (2015). The demand for liquid assets, corporate saving, and international capital flows. Journal of the European Economic Association, 13, 1101-1135. Peer Reviewed


Bacchetta P., Benhima K ; Kalantzis Y. (2014). Optimal Exchange Rate Policy in a Growing Semi-Open Economy. IMF Economic Review, 62, 48-76. Peer Reviewed


Bacchetta P., Benhima K. ; Kalantzis Y. (2013). Capital Controls with International Reserve Accumulation: Can this Be Optimal ?. American Economic Journal: Macroeconomics, 5, 229-262. Peer Reviewed


Bacchetta P. , van Wincoop E. (2013). On the Unstable Relationship between Exchange Rates and Macroeconomic Fundamentals. Journal of International Economics, 91, 18-26. Peer Reviewed


Bacchetta P. , van Wincoop E. (2013). Sudden Spikes in Global Risk. Journal of International Economics, 89, 511-521. Peer Reviewed


Bacchetta P., Tille C. ; van Wincoop E. (2012). Self-Fulfilling Risk Panics. American Economic Review, 102, 3674-3700. Peer Reviewed


Bacchetta P. (2011). Exchange-Rate Dynamics, Martin D.D. Evans. Princeton University Press (2011). Journal of International Economics, 87, 112–113.


Bacchetta P., Tille C. ; van Wincoop E. (2011). Regulating Asset Price Risk. American Economic Review, 101, 410-412. Peer Reviewed


Bacchetta P. , van Wincoop E. (2010). Infrequent Portfolio Decisions: A Solution to the Forward Discount Puzzle. American Economic Review, 100, 870-904. Peer Reviewed


Aghion P., Bacchetta P., Rancière R. ; Rogoff K. (2009). Exchange Rate Volatility and Productivity Growth: The Role of Financial Development. Journal of Monetary Economics, 56, 494-513. Peer Reviewed


Bacchetta P., Mertens E. ; van Wincoop E. (2009). Predictability in Financial Markets: What Do Survey Expectations Tell Us?. Journal of International Money and Finance, 28, 406-426. Peer Reviewed


Bacchetta P. , van Wincoop E. (2008). Higher Order Expectations in Asset Pricing. Journal of Money, Credit and Banking, 40, 837-866. Peer Reviewed


Bacchetta P. , van Wincoop E. (2007). Random Walk Expectations and the Forward Discount Puzzle. American Economic Review, Papers and Proceedings, 97, 346-350. Peer Reviewed


Bacchetta P. , van Wincoop E. (2006). Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?. American Economic Review, 96, 552-576. Peer Reviewed


Bacchetta P. , van Wincoop E. (2005). A Theory of the Currency Denomination of International Trade. Journal of International Economics, 67, 295-319. Peer Reviewed


Aghion P., Bacchetta P. ; Banerjee A. (2004). Financial Development and the Instability of Open Economies. Journal of Monetary Economics, 51, 1077-1106. Peer Reviewed


Aghion P., Bacchetta P. ; Banerjee A. (2004). A Corporate Balance-Sheet Approach to Currency Crises. Journal of Economic Theory, 119, 6-30. Peer Reviewed


Bacchetta P. , van Wincoop E. (2004). A Scapegoat Model of Exchange Rate Fluctuations. American Economic Review, Papers and Proceedings, 94, 114-118. Peer Reviewed


Bacchetta P. , van Wincoop E. (2003). Why Do Consumer Prices React less than Import Prices to Exchange Rates?. Journal of the European Economic Association, Papers and Proceedings, 1, 662-670. Peer Reviewed


Aghion P., Bacchetta P. ; Banerjee A. (2001). Currency crises and monetary policy in an economy with credit constraints. European Economic Review, 45, 1121-1150. Peer Reviewed


Bacchetta P. (2001). Foreign Capital and Economic Transformations: Risks and Benefits of Free Capital Flows. The Economic Journal, 111, F160 - 161.


Aghion P., Bacchetta P. ; Banerjee A. (2000). A Simple Model of Monetary Policy and Currency Crises. European Economic Review, Papers and Proceedings, 44, 728-738. Peer Reviewed


Bacchetta P. (2000). Política monetaria con deuda denominada en moneda extranjera. Moneda y Crédito, 210, 69-105.


Bacchetta P. (2000). Book review: International Capital Flows Martin Feldstein (ed.), The University of Chicago Press and National Bureau of Economic Research, 1999. Journal of International Economics, 53, 235–237.


Bacchetta P. , Ballabriga F. (2000). The impact of monetary policy and banks' balance sheets: some international evidence. Applied Financial Economics, 10, 15-26. Peer Reviewed


Bacchetta P. , Caminal R. (2000). Do Capital Market Imperfections Exacerbate Output Fluctuations?. European Economic Review, 44, 449-468. Peer Reviewed


Bacchetta P. , Espinosa M. P. (2000). Exchange-of-Information Clauses in International Tax Treaties. International Tax and Public Finance, 7, 275-293. Peer Reviewed


Bacchetta P. , van Wincoop E. (2000). Trade in Nominal Assets and Net International Capital Flows. Journal of International Money and Finance, 19, 55-72. Peer Reviewed


Bacchetta P. , van Wincoop E. (2000). Does Exchange Rate Stability Increase Trade and Welfare?. American Economic Review, 90, 1093-1109. Peer Reviewed


Bacchetta P. (1997). Exchange Rate Policy and Disinflation: The Spanish Experience in the ERM. The World Economy, 20, 221-238. Peer Reviewed


Bacchetta P. , Dellas H. (1997). Firm Restructuring and the Optimal Speed of Trade Reform. Oxford Economic Papers, 49, 291-306. Peer Reviewed


Bacchetta P. , Gerlach S. (1997). Consumption and Credit Constraints : International Evidence. Journal of Monetary Economics, 40, 207-238. Peer Reviewed


Bacchetta P. (1996). Capital Controls and the Political Discount: The Spanish Experience in the late 1980s. Open Economies Review, 7, 349-369. Peer Reviewed


Bacchetta P. , Espinosa M.P. (1995). Information Sharing and Tax Competition among Governments. Journal of International Economics, 39, 103-121. Peer Reviewed


Bacchetta P. , Caminal R. (1994). A Note on Reserve Requirements and Public Finance. International Review of Economics and Finance, 3, 107-118. Peer Reviewed


Bacchetta P. , Gerlach S. (1994). Sticky Import Prices and J-curves. Economics Letters, 44, 281-285. Peer Reviewed


Bacchetta P. (1992). Fiscal Deficits, Capital Controls, and the Dual Exchange Rate. Revista Española de Economía, 9, 31-51. Peer Reviewed


Bacchetta P. (1992). Liberalization of Capital Movements and of the Domestic Financial System. Economica, 59, 465-474. Peer Reviewed


Bacchetta P. , Caminal R. (1992). Optimal Seigniorage and Financial Liberalization. Journal of International Money and Finance, 11, 518-538. Peer Reviewed


Bacchetta P. (1990). Temporary Capital Controls in a Balance-of Payments Crisis. Journal of International Money and Finance, 9, 246-257. Peer Reviewed


Feldstein M. , Bacchetta P. (1987). How Far Has the Dollar Fallen?. Business Economics, 22, 35-39. Peer Reviewed


Books

(1997). Economic Policy in Switzerland. Palgrave Macmillan UK.


Book Sections

Bacchetta P. , Benhima K. (2015). Corporate Saving in Global Rebalancing. Global Liquidity, Spillovers to Emerging Markets and Policy Responses (pp. 79-103). Central Bank of Chile, Santiago, Chile.


Bacchetta P. (2012). Explaining Deviations from Uncovered Interest Parity. Handbook of Safeguarding Global Financial Stability: Political, Social, Cultural, and Economic Theories and Models (Vol. 2, pp. 209-212). Elsevier.


Bacchetta P. , van Wincoop E. (2012). Modeling Exchange Rates with Incomplete Information. Handbook of Exchange Rates (pp. 375-390). Wiley, Chichester, UK.


Bacchetta P. , Van Wincoop E. (2001). Trade Flows, Prices and the Exchange Rate Regime. Revisiting the Case for Flexible Exchange Rates (pp. 213-231). Bank of Canada Conference.


Aghion P., Bacchetta P. ; Banerjee A. (2000). Capital Flows, Output Volatility, and Financial Crises in Emerging Markets. Governance, Equity and Global Markets - Proceedings of the Annual Bank Conference on Development Economics in Europe (pp. 573-578). Documentation Française.


Bacchetta P. , van Wincoop E. (2000). Capital Flows to Emerging Markets: Liberalization, Overshooting, and Volatility. Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies (pp. 61-98). The University of Chicago Press.


Aghion P., Bacchetta P. ; Banerjee A. (1999). Financial Liberalization and Volatility in Emerging Market Economies (Published under the wrong title "Capital Markets and the Instability of Open Economies"). The Asian Financial Crises: Causes, Contagion and Consequences (pp. 167-190). Cambridge University Press, New York, NY, USA.


Bacchetta P. , Sebastián M. (1999). La desaparición de la peseta: aspectos macroeconómicos. Nuevas Fronteras de la Politica Economica (pp. 77-110). CREI.


Bacchetta P. (1994). The Lessons from Fiscal Reform in Democratic Spain. Developing Public Finance in Emerging Market Economies (pp. 183-202). Institute for EastWest Studies.


Bacchetta P. (1994). Spain and the Real Exchange Rate Problem. The Monetary Economics of Europe - Causes of the EMS Crisis (pp. 18-32). Pinter Publishers.


Bacchetta P. (1992). Abolishing Capital Controls in Spain: A Challenge for the 90s. Economic Integration and Financial Liberalization: Prospects for Southern Europe (pp. 173-194). London: Palgrave Macmillan UK.


Feldstein M. , Bacchetta P. (1991). National Saving and International Investment. National Saving and Economic Performance (pp. 201-226). University of Chicago Press.


In Proceedings

Bacchetta P., van Wincoop E., Beutler T., Chinn M.D. ; Giannone D. (2010, Jun). Can Parameter Instability Explain the Meese-Rogoff Puzzle?. NBER International Seminar on Macroeonomics 2009, 6 (pp. 125-173). University of Chicago Press. Peer Reviewed


Thesis

Cordonier Rachel (2018). ESSAYS IN INTERNATIONAL MACROECONOMICS. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta Philippe , Benhima Kenza (Dir.)


Perazzi Elena (2018). Essays on monetary policy, sovereign debt and banking. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta Philippe (Dir.)


Leutert Jessica (2017). EXCHANGE RATE DYNAMICS AND UNCONVENTIONAL MONETARY POLICY. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta Philippe (Dir.)


Ganarin M. (2013). Three essays in financial intermediation. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. (Dir.)


Andrei D. (2012). Essays in asset pricing. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. , Dumas B. (Dir.)


Beutler T. (2012). Essays on financial markets and macroeconomics. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. (Dir.)


Bruchez P.-A. (2007). Three essays on short-term macroeconomics : business fluctuations, large devaluations and inflation dynamics. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. (Dir.)


Furlanetto F. (2006). Three essays in monetary and fiscal policy. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. (Dir.)


Angeles L. (2005). Three essays in development macroeconomics. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. (Dir.)


Bindelli L. (2005). Three essays in new keynesian macroeconomics. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. (Dir.)


Mihailov A. (2004). The exchange-rate regime and trade : a new open-economy macroeconomics perspective with pass-through empirics. Université de Lausanne, Faculté des hautes études commerciales. Bacchetta P. (Dir.)


Bacchetta P. (1988). Restrictions on International Capital Flows. Harvard University, USA. Sachs J. (Dir.)


Keywords

  • exchange rates
  • financial crisis
  • international capital flows
  • international finance (2)
  • international macroeconomics (2)

 
 
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