Théo Nicolas
Senior economist and researcher at the Research and Risk Analysis Directorate (ACPR)
![Nicolas Théo](/system/files/styles/rectangle_375x225/private/2023-08/Nicolas%20Th%C3%A9o%20-%20portrait.jpg?h=1e89341b&itok=66iYFA15)
Current Position
Senior economist and researcher at the Research and Risk Analysis Directorate (ACPR)
Previous Position
Research Economist in the Banque de France Statistics Directorate
Diplomas
- PhD in Economics, Paris School of Economics (2018)
- MSc in Monetary Economics (Magistere), University of Paris I Panthéon-Sorbonne (2013)
- BSc in Econometrics, University of Paris I Panthéon-Sorbonne (2011)
Research Interest
Banking, financial regulation, corporate finance, applied econometrics.
Contact
- theo.nicolas@acpr.banque-france.fr
- +33 (0)1 42 44 72 87
- ACPR, 066-2770 DEAR, 4 Place de Budapest, 75009 Paris.
Banque de France Publications
- « Public-Guaranteed Loans, Bank Risk-Taking and Regulatory Capital Windfall »(with Stefano Ungaro and Éric Vansteenberghe), Débats économiques et financiers n°41, June 2023.
- « Bank Market Power and Interest Rate Setting: Why Consolidated Banking Data Matter », Débats économiques et financiers n°40, January 2023.
- « Relationship Lending and SMEs’ Funding Costs Over the Cycle: Why Diversification of Borrowing Matter » (with Mikael Beatriz and Jerome Coffinet,) Banque de France Working Paper No.705, December 2018.
- « How Do Short-term Financial Constraints Affect SMEs’ Long-Term Investment: Evidence from the Working Capital Channel », Banque de France Working Paper No.731, October 2019.
- « The Financial Health of SMEs: an Essential Determinant of Their Access to Credit» (with Gerardin Mathilde), Le Bulletin de la Banque de France n°233, January 2021.
- « Tracking the Economy During the Covid-19 Pandemic: the Contribution of High-Frequency Indicators» (with Jérôme Coffinet, Delbos Jean-Brieux, Kaiser Vojtech, Lestrade Ariane, Mouliom Michel, Bricongne Jean-Charles, Etienne Kintzler and Jean-Noël Kien), Le Bulletin de la Banque de France n°231, September 2020.
Academic publications
- « Relationship lending and SMEs’ funding costs over the cycle: Why diversification of borrowing matters » (avec Mikael Béatriz et Jérôme Coffinet), Journal of Banking and Finance, 2018.
- « Short-term Financial Constraints and SMEs’ Investment Decision: Evidence from the Working Capital Channel », Small Business Economics, 2021.
- Bank Market Power and Interest Rate Setting: Why Consolidated Banking Data Matter, European Journal of Finance, 2023.
- La relation bancaire: un atout pour le financement des petites et moyennes entreprises en situation de crise (avec Jérôme Coffinet), Revue d'Economie Financière, 2023.
- La concentration du secteur bancaire européen : un problème dont la mesure reste à prendre (avec Jézabel Couppey-Soubeyran), Revue d'Economie Financière, 2021.