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Paul Hiebert

Macro Prud Policy&Financial Stability

Division

Systemic Risk&Financial Institutions

Current Position

Head of Division

Fields of interest

Financial Economics, Macroeconomics and Monetary Economics, International Economics

Email

paul.hiebert@ecb.europa.eu

Biography

Other current responsibilities
2020-21

Co-lead, Basel Committee on Banking Supervision Workstream on Measurement Methodologies, Task Force on Climate Risk (with L. Clerc)

2019-21

Co-lead, ECB / European Systemic Risk Board Project Team on Climate Risk (wuth Morgan Desprès)

Education
1996

M.A. Economics, McGill University

Professional experience
2016-2017

Advisor, Monetary and Capital Markets Department, International Monetary Fund

2011-2016

Deputy Head, Financial Stability Surveillance Division, European Central Bank

2010-2011

Head of Fiscal Analysis Section, Fiscal Policies Division, European Central Bank

2006-2010

Principal Economist, Euro Area Macroeconomic Developments Division, European Central Bank

2002-2006

Senior/ Principal Economist, External Developments Division, European Central Bank

2004

Visiting Fellow, Reserve Bank of Australia

1999-2002

Economist, Fiscal Policies Division, European Central Bank

1998-1999

Economist, Economic Forecasting Division, Department of Finance, Government of Canada

1996-1997

Economist, Fiscal Policy Division, Department of Finance, Government of Canada

ECB publications
17 July 2019
2 May 2017
14 September 2015
27 November 2014
Financial Stability Review Issue ,
1 October 2010
8 June 2010
6 March 2009
3 March 2009
23 February 2007
1 October 2002
1 July 2002
External publications
2020
Journal of International Money and Finance
Financial cycles: Characterisation and real-time measurement
  • Schüler
  • Y.
  • Hiebert
  • P.
  • Peltonen T.
2018
Journal of Financial Stability
Contrasting financial and business cycles: Stylised facts and candidate explanations
  • Hiebert
  • P.
  • Jaccard
  • I.
  • Schüler
  • Y.
2011
Journal of Urban Economics
What drives returns to euro area housing? Evidence from a dynamic dividend-discount model
  • Hiebert
  • P.
  • Sydow. M.
2011
Journal of Housing Economics
Do house price developments spill over across euro area countries? Evidence from a Global VAR
  • Vansteenkiste
  • I.
  • Hiebert
  • P.
2010
Applied Economics
Trade openness, technological shocks and spillovers in the labour market: A GVAR analysis of the US manufacturing sector
  • Vansteenkiste
  • I.
  • Hiebert
  • P.
2009
Economic Modelling
The trade-off between public debt reduction and automatic stabilisation
  • Hiebert
  • P.
  • Pérez
  • J.
  • Rostagno
  • M.
2004
Journal of Policy Modeling
Identifying endogenous fiscal policy rules for macroeconomic models
  • Pérez
  • J.
  • PaulHiebert
  • P.
2019
Systemic Risk in the Financial Sector: Ten Years after the Great Crash
Tackling Systemic Risk for Banks and Countries: Perspectives from the United States and Europe
  • Feldman
  • R. Hiebert
  • P.
2008
Globalization, regionalism and economic interdependence,
Gauging the labour market effects of international trade openness: An application to the US manufacturing sector
  • Hiebert
  • P.
  • Vansteenkiste
  • I.
2002
Banca d’Italia: The Impact of Fiscal Policy
Fiscal Policies and Economic Growth in Europe: An Empirical Analysis
  • Hiebert
  • P.
  • Vidal
  • J.-P.
  • Lamo
  • A.
  • Romero
  • D.
2001
The Stability and Growth Pact – The Fiscal Architecture of EMU
Optimal debt under a deficit constraint
  • Rostagno
  • M.
  • Pérez
  • J.
  • Hiebert
  • P.
2000
Banca d’Italia: Fiscal Sustainability
Close to balance or in surplus: A methodology to calculate fiscal benchmarks
  • Hiebert
  • P
  • Pérez
  • J.
2020
International Monetary Fund Working Paper No. WP/19/295
Post-Crisis Changes in Global Bank Business Models: A New Taxonomy
  • Caparusso
  • J.
  • Chen
  • Y.
  • Dattels
  • P.
  • Goel
  • R.
  • and Hiebert
  • P.
2020
European Systemic Risk Board
Positively green: Measuring climate change risks to financial stability
  • Hiebert
  • P
  • Desprès
  • M. (Editors)
2009
University of Nottingham Globalisation and Economic Policy Centre Research Paper No. 14
The impact of globalisation on the euro area’s macroeconomic performance: An overview of key issues
  • Anderton. R.
  • Hiebert
  • P.
2006
Reserve Bank of Australia Research Discussion Paper Series 2006-07
Household saving in selected industrialised countries and asset valuations
  • Hiebert
  • P.