Francesco Pappadà

Invited Professor

Paris School of Economics

Banque de France (on leave)

Contact : fran.pappada@gmail.com

CV : pdf

Main fields of research

International Macroeconomics

Credit frictions and firm dynamics

Fiscal policy





Publications in refereed journals

Austerity and tax compliance (with Yanos Zylberberg)

European Economic Review (2017), vol. 100, 506-524.


Credit frictions and the cleansing effect of recessions (with Sophie Osotimehin)

Economic Journal (2017), vol. 127, issue 602, 1153-1187.


Euro area external imbalances and the burden of adjustment (with F. di Mauro)

Journal of International Money and Finance (2014), vol. 48(PB), 336-356.

Real adjustment of current account imbalances with firm heterogeneity

IMF Economic Review (2011), vol. 59, No. 3, 431-454.


Working papers

Sovereign default and imperfect tax enforcement (with Yanos Zylberberg)

Working papers 722, Banque de France, June 2019. Submitted


Firm turnover in the export market and the case for fixed exchange rate regime (with Masashige Hamano)

Bank of Finland Research Discussion Papers 1/2020. Submitted


Cleansing effect along the firm life cycle (with G. Berlingieri and S. Osotimehin)

In progress


Central bank insolvency and ex-post fiscal support: the French experiences of 1914 and 1931 (with Eric Monnet) - In progress


Policy and non-academic publications

Does the Trump corporate tax reform impact the US current account?, Eco Notepad Banque de France

Global imbalances: build-up, unwinding and financial aspects, Banque de France Bulletin

Tax compliance, default risk and GDP linked bonds, Eco Notepad Banque de France

The cleansing effect of recessions: Inefficient firms fail, average productivity goes up, LSE Business Review

Fiscal consolidation episodes in OECD countries : the role of tax compliance and fiscal space, Quarterly Selection of Articles Banque de France Bulletin

Media interventions on austerity and tax evasion in Greece, The Economist - The New York Times

Exchange rates and trade adjustment : Fat tails matter, VOX-EU column - Rue de la Banque

Tax Evasion and Austerity-Plan failure, VOX-EU column