WELCOME!
I am an economist in the Prices and Costs Division at the ECB.
Contact: valentin_bernard[dot]jouvanceau[at]ecb[dot]europa[dot]eu
WORKING PAPERS
"Oil fairness, Subsistence demand, and Optimal policy", (2026) (first draft)
"The Third-country Effects of Trade Wars", with M. Darracq Pariès, and A. Eyquem,
ECB WP (2026) (link)
"Consumer Price Stickiness in the Euro Area During an Inflation Surge", with E. Gautier, C. Conflitti, D. Enderle, L. Fadejeva, A. Grimaud, E. Gutierrez, J.-O. Menz, A. Paulus, P. Petroulas, and E. Wieland,
ECB ChaMP WP (2026) (link), Revision at American Economic Journal: Macroeconomics (2026)
"Consumer price rigidity in the Baltic states during low and high inflation periods", with L. Fadejeva and A. Paulus,
BoL WP (2024) (link), Revision at Journal of Money, Credit and Banking (2026)
PUBLICATIONS
"Household Borrowing and Monetary Policy Transmission: Post-Pandemic Insights from Nine European Credit Registers", De Jonghe et al.,
International Journal of Central Banking (2026) (link)
"Optimal policies when price fairness matters",
Macroeconomic Dynamics (2025) (link)
"New facts on consumer price rigidity in the Euro Area", with E. Gautier, C. Conflitti, R. Faber, B. Fabo, L. Fadejeva, J.-O. Menz, T. Messner, P. Petroulas, P. Roldan-Blanco, F. Rumler, S. Santoro, E. Wieland, and H. Zimmer,
American Economic Journal: Macroeconomics (2024) (link)
"The dynamics of product and labor market power: Evidence from Lithuania", with Z. Ding and J. Garcia-Louzao,
Economics of Transition and Institutional Change (2024) (link)
"ECB monetary communications: Market fragmentation at stake", with I. Mikaliūnaitė-Jouvanceau,
Economics Letters (2023) (link) -- (online appendix (link))
"Wage growth in Lithuania from 2008 to 2020: Observed drivers and underlying shocks", with J. Garcia-Louzao,
Baltic Journal of Economics (2023) (link)
POLICY REPORTS
"Global implications of export controls on rare earths: a model-based assessment" with P. Aguilar, M. Darracq Pariès, B. Meunier, and T. Spital,
ECB OP (2026) (link)
"Trade Wars and Global Spillovers: A Quantitative Assessment with ECB-Global", with M. Darracq Pariès, A. Dieppe, and, T. Kockerols,
ECB WP (2025) (link)