Welcome to my website!
I am a senior economist in the Economics and Research Department of the National Bank of Belgium. I hold a PhD from UCLouvain. My research covers topics in macroeconomics, with a particular focus on monetary and fiscal policy interactions, household heterogeneity and the implications of the effective lower bound on nominal interest rates.
As a quantitative macroeconomist, I have expertise in a broad range of computational and empirical techniques, including local (piecewise-)linear algorithms, global (collocation) methods, sequence-space Jacobian methods for heterogeneous-agent models, Bayesian estimation, and empirical econometric tools.
This is my personal website. The views expressed on this website are my own and do not necessarily reflect those of the National Bank of Belgium or the Eurosystem.
You can also visit my Google scholar and LinkedIn. Please don't hesitate to contact me if you have any questions or comments.
Personnal info:
CV (updated March 2026)
E-mail: chdebeauffort[at]gmail.com
Phone number: 0032 (0) 491 52 96 35
NEWS:
Revised version of "Protecting Households from Energy Shocks: Wage Indexation and Fiscal Policy", with G. de Walque, T. Lejeune, J. Mohimont and A. Rannenberg (Sep 2026)
New working paper: "Trade Frictions and the Small Open-Economy Fiscal Multiplier", with A. Rannenberg (Sep 2026)
Working papers
Trade Frictions and the Small Open-Economy Fiscal Multiplier, with A. Rannenberg (Sep 2026)
Fiscal Policy and Sectoral Spillovers in Open-Economy HANK, with A. Rannenberg (Jan 2026) Reject and Resubmit at the Journal of International Economics
Protecting Households from Energy Shocks: Wage Indexation and Fiscal Policy, with G. de Walque, T. Lejeune, J. Mohimont and A. Rannenberg (Sep 2026)
Optimal Monetary Policy Rules in the Fiscal Theory of the Price Level, with B. Chafwehé and R. Oikonomou (Nov 2022)
Publications
Managing the Inflation-Output Trade-off with Public Debt Portfolios (with B. Chafwehé and R. Oikonomou) Journal of Economic Dynamics & Control, Vol. 183, Article 105244, February 2026. [WP version]
Government Debt and Expectations-Driven Liquidity Traps International Journal of Central Banking, Vol. 20(4), pp. 321-370, October 2024. [WP version] | Third PhD chapter
Looking Beyond the Trap: Fiscal Legacy and Central Bank Independence Oxford Bulletin of Economics and Statistics, Vol. 86, pp. 385-416, April 2024. [WP version] [Online Appendix] | First PhD chapter
When Is Government Debt Accumulation Optimal in a Liquidity Trap? Journal of Economic Dynamics & Control, Vol. 147, Article 104591, February 2023. [WP version]
Policy work
Central bank independence: the foundations and limits of credible monetary policy, with S. El Joueidi
NBB Economic Review 2026 No 6, October 2026.
Assessing the impact of two Belgian specificities on competitiveness and purchasing power when an energy shock hits, with T. Lejeune and G. de Walque
Prepared for the Belgian Financial Forum, March 2023.