Philippe Bacchetta

Philippe Bacchetta is a Swiss Finance Institute Professor of Macroeconomics at the University of Lausanne's Faculty of Business and Economics. He holds a Ph.D. and M.A. from Harvard University and undergraduate degrees from the University of Lausanne. His career includes roles as director of the Study Center Gerzensee (1998–2007), teaching positions at Brandeis University, ESADE, and visiting professorships across Europe. Bacchetta specializes in open economy macroeconomics, international finance, and monetary policy. His research examines exchange rate determination, financial crises, and the impact of global liquidity conditions. He received a prestigious ERC Advanced Grant in 2011 and has served as Program Director for the CEPR's International Macroeconomics and Finance program. His work frequently addresses policy-relevant topics like currency denomination choices, central bank interventions, and the role of dollar funding in global banking systems.

Education:

• Ph.D. and M.A. in Economics, Harvard University
• B.A. and M.S. in Economics, University of Lausanne

Research focuses on:

• Exchange rate dynamics under frictions
• Cross-border capital flows and financial stability
• Monetary policy in liquidity traps
• Global implications of central bank digital currencies

Key contributions include analyzing UIP/CIP deviations, dollar funding fragility, and the international transmission of asset market shocks. His recent work explores how imperfect arbitrage and portfolio adjustment delays shape exchange rates and capital flows.

Awards:

• European Research Council Advanced Grant (2011)

Professional roles include serving on the Swiss National Research Council and leading academic institutions. His grants and advising activities reflect deep engagement with central banks and policy institutions.