Fellows at large

Shahin Vallée

Shahin Vallée

Twitter: @Shahinvallee

Shahin Vallee is a French citizen and has been a Visiting Fellow at Bruegel from October 2010 until June 2012 when he was appointed Economic Advisor to the President of the European Council, Herman Van Rompuy. He worked on questions pertaining to the architecture of the euro area and the consequences of the economic and financial crisis. He has been the Economic Advisor to the French Economy Minister since September 2014.

His research interest is essentially focused on international macroeconomics, but he is also particularly interested in research areas at the intersection of financial markets and public policy. At Bruegel he worked on the international monetary system, European economic governance and monetary and macroprudential policy.

Prior to his time as a policymaker, Shahin worked for an investment bank in London where he had several successive roles within the research department. Between January and June 2012 Shahin served as an advisor on European and economic issues to the Green Party's presidential campaign in France.

He holds a Master's from Columbia University in New York, and a Public Affairs Degree from Sciences Po in Paris, as well as an undergraduate economics degree from La Sorbonne. He is fluent in French and English and can speak and read Portuguese.

Contact information

shahin.vallee@bruegel.org

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Working Paper

Europe between financial repression and regulatory capture

Europe between financial repression and regulatory capture

Highlights The financial crisis modified drastically and rapidly the European financial system’s political economy, with the emergence of two competing narratives. First, government agencies are frequently described as being at the mercy of the financial sector, routinely hijacking political, regulatory and supervisory processes, a trend often referred to as “capture”. But alternatively, governments are portrayed […]

By: Éric Monnet, Stefano Pagliari and Shahin Vallée Topic: Finance & Financial Regulation Date: July 9, 2014
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Blog Post

Shahin Vallée

From mutual insurance to fiscal federalism

Almost exactly 25 years ago, the Committee for the study of economic and monetary union was presenting its report to the European Council outlining the process of European monetary unification and setting out the architecture of the single currency to be.

By: Shahin Vallée Topic: European Macroeconomics & Governance Date: June 3, 2014
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Working Paper

Global and regional financial safety nets: lessons from Europe and Asia

Global and regional financial safety nets: lessons from Europe and Asia

This paper analyses the relationships between global and regional financial safety nets, and uncovers the potential tensions and operational challenges associated with the involvement of several institutional players with potentially different interests, analytical biases and governance.

By: Changyong Rhee, Lea Sumulong and Shahin Vallée Topic: Finance & Financial Regulation, Global Economics & Governance Date: November 20, 2013
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Book

EU-Korea Economic Exchange

EU-Korea Economic Exchange

Articles published during the Bruegel/Korea Institute of Finance project on ‘EU-Korea policy responses to the global financial and economic crisis and the scope for internationalisation of the financial services industry’

By: Zsolt Darvas, Chung-Han Kim, Shahin Vallée, Nicolas Véron, Haesik Park, Georg Zachmann, Jeong Ho Suh, Jean Pisani-Ferry, Christopher Byungho Suh, Reinhilde Veugelers, Hyoungsik Noh, Sungwook Park, Jabonn Kim, Mansoo Jee, Marco Antonielli and Mario Mariniello Topic: Global Economics & Governance Date: April 22, 2013
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Shahin Vallée

The creation of euro area safety nets

The financial crisis has exposed the need to devise stronger and broader international and regional safety nets in order to deal with economic and financial shocks and allow for countries to adjust. The euro area has developed several such mechanisms over the last couple of years through a process of trial and error and gradual […]

By: Michiel Bijlsma and Shahin Vallée Topic: European Macroeconomics & Governance Date: July 6, 2012
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Working Paper

Paths to eurobonds

Paths to eurobonds

This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financialmarkets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal discipline and risk-sharing.

By: Stijn Claessens and Shahin Vallée Topic: European Macroeconomics & Governance Date: July 3, 2012
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Shahin Vallée

Paths to eurobonds

The defining feature of the European Monetary Union is that it was purposefully designed as a monetary union without a fiscal union. In this sense, the political and intellectual consensus that gave birth to the euro was one in which this unusual form of economic and monetary union was deemed both politically and economically sustainable. The defining feature of the European Monetary Union is that it was purposefully designed as a monetary union without a fiscal union. In this sense, the political and intellectual consensus that gave birth to the euro was one in which this unusual form of economic and monetary union was deemed both politically and economically sustainable. Yet both the history of monetary unions (see Bordo et al (2011)) and the ongoing crisis seem to challenge this very assumption. 

By: Shahin Vallée Topic: European Macroeconomics & Governance Date: July 3, 2012
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Video

Video

Paths to eurobonds

Guntram Wolff: You are the author of a study on Eurobonds. Eurobonds are certainly discussed at the moment, but there are a lot of different models of how to introduce Eurobonds and how Eurobonds should be designed. Would you like to give us a comparison of the different models out there? Shahin Vallée: The paper […]

By: Shahin Vallée and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: July 2, 2012
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Working Paper

The creation of euro area financial safety nets

The creation of euro area financial safety nets

This paper provides an overview of the recent financial stability mechanisms and their various shortcomings and tries to brush the outline of a more comprehensive safety net architecture that would coherently address the banking, sovereign and external imbalances crises against both transitory and more permanent shocks.

By: Michiel Bijlsma and Shahin Vallée Topic: European Macroeconomics & Governance, Finance & Financial Regulation Date: July 2, 2012
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Shahin Vallée

Banking union vs. fiscal union and capture

Banking union is all the rage these days. There seems to be a general intellectual agreement that cutting the vicious feedback loop between banks and their respective sovereigns is one pressing matter (see Bruegel’s recent publications on the matter). There seems to be some convergence on the idea of (i) a supranational guarantee of deposits […]

By: Shahin Vallée Topic: European Macroeconomics & Governance, Finance & Financial Regulation Date: July 2, 2012
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Video

Video

What kind of banking union?

Shahin Vallée: We are just a few days ahead of an important European Council meeting. There have been a number of discussions around this meeting. Banking union on one side, discussion about budgetary integration, political union and of course, the discussion about the growth agenda. What do you think are the important topics and what […]

By: Guntram B. Wolff and Shahin Vallée Topic: European Macroeconomics & Governance Date: June 26, 2012
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Shahin Vallée

The Weekender (last edition)

Dear All, I have to inform you that this is my last weekender. I have recently accepted to join the Cabinet of President Van Rompuy and I will be starting very soon. I understand that writing this weekender somewhat helped me to get this job and so I’m thankful to Bruegel for offering me the […]

By: Shahin Vallée Topic: European Macroeconomics & Governance Date: June 25, 2012
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