Jean-Marc Natal

Jean-Marc Natal is the Head of the Commodities Unit at the IMF and former Deputy Chief of the World Economic Studies Division in the IMF’s Research Department. Prior to joining the IMF, he was Deputy Director of Research at the Swiss National Bank where he advised the Board on quarterly monetary policy decisions and communication. Mr Natal has taught Monetary Theory and Policy at the University of Geneva and has published in various economics journals, including the Economic Journal and the Journal of Money, Credit and Banking. His research covers the study of the importance of commodity markets for macroeconomic fluctuations, monetary and exchange rate regimes, optimal monetary and financial policy, inflation dynamics and macroeconomic modeling. He holds a PhD in International Economics from the Graduate Institute of International Studies in Geneva.

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Contents

• The Oil Market Absorbed the War Shock, but Buffers Are Running Low
  • Published: July 15, 2026
  • Authors: Jean-Marc Natal, Azim Sadikov
  • Summary: Less demand, more production, and inventory drawdowns prevented a larger price spike. A quick supply recovery is essential to avoid further damage to the global economy
• Global Inflationary Episode Offers Lessons for Monetary Policy
  • Published: October 16, 2024
  • Authors: Jorge Alvarez, Alberto Musso, Jean-Marc Natal, Sebastian Wende
  • Summary: The inflation surge followed a unique disruption to the global economy, but it still offers important lessons for central banks
• Interest Rates Likely to Return Toward Pre-Pandemic Levels When Inflation is Tamed
  • Published: April 10, 2023
  • Authors: Jean-Marc Natal, Philip Barrett
  • Summary: How close will depend on the persistence of public debt, on how climate policies are financed and on the extent of deglobalization
• Further Delaying Climate Policies Will Hurt Economic Growth
  • Published: October 5, 2022
  • Authors: Benjamin Carton, Jean-Marc Natal
  • Summary: The transition to a greener future has a price—but the longer countries wait to make the shift, the larger the costs
• Private Debt to Weigh on Global Economic Recovery
  • Published: April 18, 2022
  • Authors: Silvia Albrizio, Sonali Das, Christoffer Koch, Jean-Marc Natal, Philippe Wingender
  • Summary: A record rise in private debt could slow the economic recovery, but the drag on growth will vary across countries and within them.
• Why Basic Science Matters for Economic Growth
  • Published: October 6, 2021
  • Authors: Philip Barrett, Niels-Jakob Hansen, Jean-Marc Natal, Diaa Noureldin
  • Summary: Public investment in basic research will pay for itself.
• Growing Older: Germany Needs Reforms
  • Published: June 29, 2016
  • Authors: Enrica Detragiache, Jean-Marc Natal, Joana Pereira

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Source: https://www.imf.org/en/blogs/authors/jean-marc%20natal