Jean-Edouard Colliard

Jean-Edouard Colliard is Associate Professor of Finance at HEC Paris. He joined in 2014, after working two years as an economist for the European Central Bank. He obtained a Ph.D. in Economics in 2012 from the Paris School of Economics and graduated from Ecole Normale Supérieure (Paris) in 2009. He studies the frictions hampering the efficiency of financial markets and how regulation can alleviate them, using both theory and empirics.

A first stream of Jean-Edouard’s research emphasizes how regulation and market structure affect market quality. He showed that a financial transaction tax imposed in France in 2012 worsened market quality for less liquid stocks. He has also worked on trading fees and over-the-counter markets.

In a second series of papers, he studies the costs and benefits of recent regulations in banking, with an emphasis on the unintended consequences of, e.g., the Single Supervisory Mechanism, bail-in rules, or “output floors”. He also offered a method to measure regulatory complexity.

More recently, Jean-Edouard has worked on the impact of artificial intelligence, e.g., the risks of algorithmic collusion, and the consequences of AI for the finance labor market.

His research has appeared in leading journals such as the Journal of Finance, the Review of Financial Studies, and Management Science. His work has also been published by media such as The Conversation, France 24, VoxEU, and The Banker.

He received several awards, such as the 2022 "Best Young Researcher in Finance and Insurance" Award of IEF / SCOR Foundation, and the 2020 Best Researcher Award of the HEC Foundation.