Eric MENGUS

Associate Professor

Economics and Decision Sciences

mengus@hec.fr
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Biography

Eric Mengus is an engineering graduate from Ecole Polytechnique in Paris and earned a Ph.D. in Economics at Toulouse School of Economics in 2014.

His research focuses on macroeconomics and international finance and he works on various topics such as sovereign debt, international capital flows or household insurance. He teaches courses in macroeconomics for and on economics applied to Europe in the Grande Ecole Program. He previously was a researcher for the Banque de France.

Scientific articles

Labor Market Polarization and the Great Urban Divergence

Journal of International Economics, June 2026, vol. 160, n° 104224, (in coll. with D. R. DAVIS, T. K. MICHALSKI)

Fiscal Dominance: Implications for Bond Markets and Central Banking

Annual Review of Financial Economics, 2025, vol. 17, pp 113-132, (in coll. with J. BATHÉLÉMY, G. PLANTIN)

The central bank, the treasury, or the market: Which one determines the price level?

Journal of Economic Theory, June 2024, vol. 220, n° 105885, (in coll. with J. Barthélemy, G. Plantin)

Time-consistent implementation in macroeconomic games

Theoretical Economics, June 2024, vol. 19, n° 3, pp 1119-1150, (in coll. with J. BARTHELEMY)

What Matters in Households’ Inflation Expectations?

Journal of Monetary Economics, June 2023, vol. 138, pp 50-68, (in coll. with P. ANDRADE, E. GAUTIER)

Asset Purchase Bailouts and Endogenous Implicit Guarantees

Journal of International Economics, June 2023, vol. 142, n° 103737,

Myopic Fiscal Objectives and Long-Run Monetary Efficiency

Journal of Monetary Economics, June 2023, vol. 136, pp 1-17, (in coll. with G. GABALLO)

Endogenous Partial Insurance and Inequality

Journal of the European Economic Association, October 2020, vol. 18, n° 5, pp 2270–2314, (in coll. with R. PANCRAZI)

Forward Guidance and Heterogenous Beliefs

American Economic Journal: Macroeconomics, June 2019, vol. 11, n° 3, pp 1-29, (in coll. with P. ANDRADE, G. GABALLO, B. MOJON)

Institutional Quality and Capital Inflows: Theory and Evidence

Journal of International Money and Finance, September 2019, vol. 96, pp 168-191, (in coll. with E. CHALLE, J. I. LOPEZ)

Working papers

A State Theory of Price Levels

Cahier de Recherche du Groupe HEC , 2026

A State Theory of Price Levels

Banque de France Working Paper , 2025

Household Beliefs about Fiscal Dominance

Banque de France Working Paper , 2025

Knowledge Workers and Firm Capabilities

Cahier de Recherche du Groupe HEC , 2023

Myopic Fiscal Objectives and Long-Run Monetary Efficiency

CEPR Discussion Series , 2022

The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?

Centre for Economic Policy Research , 2022

Time-consistent implementation in macroeconomic games

Centre for Economic Policy Research , 2022

Implementation Under Limited Commitment

Cahier de Recherche du Groupe HEC , 2021

Public Liquidity Demand and Central Bank Independence

Banque de France Working Paper , 2020

What Matters in Households' Inflation Expectations?

Centre for Economic Policy Research , 2020

Scientific articles

Labor Market Polarization and the Great Urban Divergence

Journal of International Economics, June 2026, vol. 160, n° 104224, (in coll. with D. R. DAVIS, T. K. MICHALSKI)

Fiscal Dominance: Implications for Bond Markets and Central Banking

Annual Review of Financial Economics, 2025, vol. 17, pp 113-132, (in coll. with J. BATHÉLÉMY, G. PLANTIN)

The central bank, the treasury, or the market: Which one determines the price level?

Journal of Economic Theory, June 2024, vol. 220, n° 105885, (in coll. with J. Barthélemy, G. Plantin)

Time-consistent implementation in macroeconomic games

Theoretical Economics, June 2024, vol. 19, n° 3, pp 1119-1150, (in coll. with J. BARTHELEMY)

Working papers

A State Theory of Price Levels

Cahier de Recherche du Groupe HEC , 2026

A State Theory of Price Levels

Banque de France Working Paper , 2025

Household Beliefs about Fiscal Dominance

Banque de France Working Paper , 2025

Knowledge Workers and Firm Capabilities

Cahier de Recherche du Groupe HEC , 2023

Education

  • Habilitation to conduct research in Economics, Sciences Po Paris - France
  • Doctorat en Sciences Economiques (Ph.D. in Economics), Toulouse School of Economics - France
  • M.Sc., Ecole Nationale des Ponts et Chaussées - France
  • Bachelor of Arts in Philosophy, Université Paris Sorbonne Lettres et Civilisations - France
  • M.Sc., Ecole Polytechnique - France

Academic appointments

Academic Responsibilities at HEC

  • 2020- Associate Professor HEC Paris
  • 2014-2020 Assistant Professor HEC Paris

Scientific Activities

Editorial activities

  • Reviewer, American Economic Journal: Macroeconomics, Econometrica, Quarterly Journal of Economics, Review of Economic Studies, Journal of Finance, Journal of the European Economic Association, Journal of Economic Theory, Journal of Economic Growth, Review of International Economics, Macroeconomic Dynamics

    • Awards & honors

    • 2019 Prix du jeune chercheur en economie 2019 de la Fondation Banque de France pour la recherche
    • 2015 Prix d'economie de l'Academie des Sciences, Inscriptions Belles Lettres de Toulouse