Natacha Valla


Natacha Valla is the Deputy Director of CEPII, where she also heads the scientific programme International Macroeconomics and Finance. CEPII is the main French think tank in International Economics. It belongs to the Prime Minister’s Office but is fully independent.

Natacha Valla is a board member of SUERF (European Money and Finance Forum), member of the Commission Economique de la Nation (nominated advisory group to the Finance Minister), a board member of AFFi and member of the Société d’Economie Politique. Her research interests include investment, financial stability, monetary policy and applied macroeconomics. She recurrently appears in national and international media.

Before joining CEPII, Natacha Valla was Executive Director at Goldman Sachs Global Economic Research between 2008 and 2014, where her focus was on financial economics and macroeconomic developments in the euro area, France and Italy. Natacha worked at the European Central Bank between 2001-2008 on the monetary policy stance and aspects of policy implementation in money markets. She has also lectured international economics at Sciences-Po Paris. In 2005, she was seconded at the Research Directorate of the Banque de France in Paris. Prior to that, she has been a consultant for the IMF and the OECD, and taught at the Universities of Florence, Paris-Dauphine and H.E.C..

She received a PhD in Economics from the European University Institute (Florence) in 2003 on “Learning and distribution in monetary economics” dealing with income distribution and learning models applied to monetary economics. She has written articles and contributed to collective works on financial stability, banking and financial markets, monetary policy making and implementation, as well as real interested rate measures.

Articles by Natacha Valla