Dées, Stéphane


  • Adviser, DG-Macroprudential Policy and Financial Stability, Macro-Financial Linkages Division

Fields of interest:

  • Stress testing and macroprudential policy
  • Applied Macroeconomics
  • Macroeconomic modelling and forecasting
  • International Economics


  • PhD, University of Bordeaux

Professional experience:

  • Adviser, DG-Economics, Output and Demand Division (2014-2015)
  • Principal Economist, DG-Economics Euro Area Macroeconomic Developments Division (2010-2014)
  • Economist/Principal Economist, DG-Economics, External Developments Division (2001-2010)
  • Economist, Centre d'Etudes Prospectives et d'Informations Internationales (CEPII), Paris (1998-2001)
  • Research Officer, National Institute of Economic and Social Research (NIESR), London (1996-1998)

Teaching experience:

  • Associate Lecturer, University of Bordeaux
No. Title Authors
1953Animal spirits, fundamental factors and business cycle fluctuationsDées, Stéphane, Zimic, Srečko
1895Credit, asset prices and business cycles at the global levelDées, Stéphane
1870Regional dynamics of economic performance in the EU: To what extent spatial spillovers matter?Dées, Stéphane, Özyurt, Selin
1749Linking distress of financial institutions to macrofinancial shocksdi Mauro, Filippo, Dées, Stéphane, Al-Haschimi, Alexander, Jančoková, Martina
1724Analysing and forecasting price dynamics across euro area countries and sectors: a panel VAR approachDées, Stéphane, Güntner, Jochen
1669The international dimension of confidence shocksDées, Stéphane, Güntner, Jochen
1349Consumer confidence as a predictor of consumption spending: evidence for the United States and the euro areaDées, Stéphane, Soares Brinca, Pedro
1322Business cycle synchronisation: disentangling trade and financial linkagesDées, Stéphane, Zorell, Nico
1239Supply, demand and monetary policy shocks in a multi-country New Keynesian ModelDées, Stéphane, Pesaran, Hashem, Smith, Vanessa, Smith, Ron P.
1059Forecasting the world economy in the short-termJakaitiene, Audrone, Dées, Stéphane
1034The role of the United States in the global economy and its evolution over timeDées, Stéphane, Saint-Guilhem, Arthur
933Import price dynamics in major advanced economies and heterogeneity in exchange rate pass-throughDées, Stéphane, Burgert, Matthias, Parent, Nicolas
892Identification of new Keynesian Phillips Curves from a global perspective.Dées, Stéphane, Pesaran, Hashem, Smith, Vanessa, Smith, Ron P.
882Forecasting world trade: direct versus "bottom-up" approachesDées, Stéphane, Burgert, Matthias
875Global macro-financial shocks and expected default frequencies in the euro areaCastrén, Olli, Dées, Stéphane, Zaher, Fadi
855Assessing the factors behind oil price changesDées, Stéphane, Gasteuil, Audrey, Kaufmann, Robert K., Mann, Michael
798The transmission of US cyclical developments to the rest of the worldVansteenkiste, Isabel, Dées, Stéphane
750Long run macroeconomic relations in the global economyDées, Stéphane, Pesaran, Hashem, Smith, Vanessa, Holly, Sean
568Exploring the international linkages of the euro area: a global VAR analysisDées, Stéphane, di Mauro, Filippo, Pesaran, Hashem, Smith, Vanessa
503World trade and global integration in production processes: a re-assessment of import demand equationsBarrell, Ray, Dées, Stéphane
Title Authors Where
Credit, asset prices and business cycles at the global level S. Dees Economic Modelling, vol.54, p. 139-152, April 2016
Constructing Multi-country Rational Expectations Models S. Dees, H. Pesaran, V. Smith and R. Smith Oxford Bulletin of Economics and Statistics, vol 76(6), 812-840, December 2014.
Import Price Dynamics in Major Advanced Economies and Heterogeneity in Exchange Rate Pass-Through S. Dees, M. Burgert and N. Parent Empirical Economics, vol 45(2), 789-816, October 2013.
Consumer Confidence as a Predictor of Consumption Spending: Evidence for the United States and the Euro Area S. Dees and P. Soares Brinca International Economics, vol 134, 1-96, August 2013.
Forecasting the World Economy in the Short-Term S. Dees and A. Jakaitiene vol. 35(3), 331-350, March 2012
Business Cycle Synchronisation: Disentangling Trade and Financial Linkages S. Dees and N. Zorell Open Economies Review, vol. 23(4), 623-643, September 2012
The Role of the United States in the Global Economy and its Evolution over Time S. Dees and A. Saint-Guilhem Empirical Economics, vol. 41(3), p. 573-591, December 2011
Stress-testing euro area corporate default probabilities using a global macroeconomic model O. Castrén, S. Dées and F. Zaher Journal of Financial Stability, vol. 6(2), p. 64-78, June 2010
Catching the Flu from the United States: synchronization and transmission mechanisms to the Euro area F. di Mauro, S. Dees and M. Lombardi Palgrave-MacMillan Publishers Ltd, 2010
Horizontal and vertical transmissions in the US oil supply chain R. Kaufmann, S. Dees and M. Mann Energy Policy, vol. 37(2), p. 644-650, February 2009
Forecasting World Trade: Direct Versus “Bottom-Up” Approaches M. Burgert and S. Dees Open Economies Review, vol. 20(3), p. 385-402, July 2009
Identification of New Keynesian Phillips Curves from a Global Perspective S. Dees, M.H. Pesaran, L.V. Smith and R.P. Smith Journal of Money, Credit and Banking, vol. 41(7), p. 1481-1502, October 2009
Globalisation, Regionalism and Economic Interdependence F. di Mauro, S. Dees and W. McKibbin (ed.) Cambridge University Press, 2009
Oil prices: The role of refinery utilization, futures markets and non-linearities R. Kaufmann, S. Dees, A. Gasteuil and M. Mann Energy Economics, vol. 30(5), p. 2609-2622, September 2008
Modelling the world oil market: Assessment of a quarterly econometric model S. Dees, P. Karadeloglou, R. Kaufmann and M. Sanchez Energy Policy, vol. 35(1), p. 178-191, January 2007
Long Run Macroeconomic Relations in the Global Economy S. Dees, S. Holly, M.H. Pesaran and L.V. Smith Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 1(3), p. 1-20, 2007
Exploring the international linkages of the euro area: a global VAR analysis S. Dees, F. di Mauro, M.H. Pesaran and L.V. Smith Journal of Applied Econometrics, vol. 22(1), p. 1-38, 2007
Does OPEC Matter? An Econometric Analysis of Oil Prices R. Kaufmann, S. Dees, P. Karadeloglou and M. Sanchez The Energy Journal, vol. 25(4), p. 67-90, 2004
A computational general equilibrium model with vintage capital L. Cadiou, S. Dees and J.-P. Laffargue Journal of Economic Dynamics and Control, vol. 27(11-12), p. 1961-1991, September 2003
Foreign Direct Investment in China: Determinants and Effects S. Dees Economic Change and Restructuring, vol. 31(2-3), p. 175-94, 1998.