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I am a Senior Research Economist in the International Macro Division of the Banque de France. Previously, I have worked for five years as a Researcher in the International Directorate of the Bank of England. My research interests range from monetary policy to international macro-finance, digital currencies, and the macroeconomic consequences of geopolitical risk.
You can have a look at my CV here.
Publications:
"Global Spillovers of the Fed Information Effect" (August 2023), with A. Szczepaniak (Ghent University)
IMF Economic Review, Volume 72, August 2023, Issue 2, Pages 773-819
Working papers:
"Geopolitical Risk and Inflation: The Role of Energy Markets" (July 2025) [latest version] [working paper] [slides]
Revise & Resubmit at the Journal of International Economics
"CBDC Policy Rules" (July 2024), with M. Kumhof (Bank of England), Phurichai Rungcharoenkitkul (BIS), and A. Sokol (Bloomberg) [latest version] [working paper]
Reject & Resubmit at the Journal of Monetary Economics
"Towards a New Monetary Theory of the Exchange Rate" (April 2024), with A. Cesa-Bianchi (Bank of England), M. Kumhof (Bank of England), A. Sokol (Bloomberg), and G. Thwaites (University of Nottingham) [latest version] [submitted]
Work in progress:
"Crypto Shocks" (2026), with A. Cesa-Bianchi (Bank of England)
"Fool's Gold: How the US Dollar lost its Shine" (2026), with K. Arvai (ECB) and N. Coimbra (Banque de France)
Invited to the International Seminar on Macroeconomics 2026 (Journal of International Economics)
Invited discussions:
Aquilina, Lehar, Ravenna, and Schönleber (2026) "Mainstreaming Tokenized Finance"
Federle, Meier, Müller, Mutschler, and Schularick (2024) "The Price of War" [slides]
Bidder, Jackson, and Rottner (2023) "CBDC and Banks: Disintermediating Fast and Slow" [slides]
Boehm and Kroner (2022), "The US, Economic News, and the Global Financial Cycle" [slides]
Ciminelli, Rogers, and Wu (2021) "The Effects of US Monetary Policy on International Mutual Fund Investment" [slides]
Blog posts:
“Not all geopolitical shocks are alike: the role of energy markets” (2025) [link]
“Did supply constraints tilt the Phillips Curve?” (2023), with A. Cesa-Bianchi (Bank of England), E. Hall (Bank of England), and J. Reynolds (Bank of England), Bank Underground [link]
“The transmission channels of geopolitical risk” (2023), with S. Smith (Bank of England), Bank Underground [link]
“CBDC policies in open economies” (2023), with M. Kumhof (Bank of England), P. Rungcharoenkitkul (BIS), and A. Sokol (Bloomberg), VoxEU [link]
“Words which travel the world: global spillovers of the Fed information effect” (2022), with A. Szczepaniak (Ghent University), Bank Underground [link]
Contacts:
[ marcoluca.pinchetti [at] gmail.com ] [ marco.pinchetti [at] banque-france.fr ]
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