Stéphane Dées


  • 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
1953 Animal spirits, fundamental factors and business cycle fluctuations Stéphane Dées, Srečko Zimic
1895 Credit, asset prices and business cycles at the global level Stéphane Dées
1870 Regional dynamics of economic performance in the EU: To what extent spatial spillovers matter? Selin Özyurt, Stéphane Dées
1749 Linking distress of financial institutions to macrofinancial shocks Alexander Al-Haschimi, Stéphane Dées, Filippo di Mauro, Martina Jančoková
1724 Analysing and forecasting price dynamics across euro area countries and sectors: a panel VAR approach Stéphane Dées, Jochen Güntner
1669 The international dimension of confidence shocks Stéphane Dées, Jochen Güntner
1349 Consumer confidence as a predictor of consumption spending: evidence for the United States and the euro area Stéphane Dées, Pedro Soares Brinca
1322 Business cycle synchronisation: disentangling trade and financial linkages Stéphane Dées, Nico Zorell
1239 Supply, demand and monetary policy shocks in a multi-country New Keynesian Model Stéphane Dées, Hashem Pesaran, Vanessa Smith, Ron P. Smith
1059 Forecasting the world economy in the short-term Audrone Jakaitiene, Stéphane Dées
1034 The role of the United States in the global economy and its evolution over time Stéphane Dées, Arthur Saint-Guilhem
933 Import price dynamics in major advanced economies and heterogeneity in exchange rate pass-through Stéphane Dées, Matthias Burgert, Nicolas Parent
892 Identification of new Keynesian Phillips Curves from a global perspective. Stéphane Dées, Hashem Pesaran, Vanessa Smith, Ron P. Smith
882 Forecasting world trade: direct versus "bottom-up" approaches Matthias Burgert, Stéphane Dées
875 Global macro-financial shocks and expected default frequencies in the euro area Olli Castrén, Stéphane Dées, Fadi Zaher
855 Assessing the factors behind oil price changes Stéphane Dées, Audrey Gasteuil, Robert K. Kaufmann, Michael Mann
798 The transmission of US cyclical developments to the rest of the world Stéphane Dées, Isabel Vansteenkiste
750 Long run macroeconomic relations in the global economy Stéphane Dées, Sean Holly, Hashem Pesaran, Vanessa Smith
568 Exploring the international linkages of the euro area: a global VAR analysis Stéphane Dées, Filippo di Mauro, Hashem Pesaran, Vanessa Smith
503 World trade and global integration in production processes: a re-assessment of import demand equations Ray Barrell, Stéphane Dées
Title Authors Where Date
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. --