Frank Smets

Deputy Head, MED

frank.smets@bis.org

Frank Smets is Deputy Head of MED and Head of Economic Analysis & Statistics. He is a member of the Bank's senior management team. Mr Smets joined the BIS in December 2024 from the ECB, where he was Adviser to the Executive Board. Previously, he was Director General of Economics, Adviser to the President of the ECB and Director General of Research at the ECB. He started his career at the BIS, where he worked until 1998. He held the BIS Alexandre Lamfalussy Senior Research Fellowship in 2023. Mr Smets is a recognised expert on monetary economics and monetary policy. He holds a PhD in economics from Yale University. His research includes work on monetary, macroeconomic, financial and international issues, mostly related to central banking.

All BIS publications (14)

BIS Working Paper No 1294 3 Oct 2025

Parsing the pulse: decomposing macroeconomic sentiment with LLMs

Macroeconomic indicators provide quantitative signals that must be pieced together and interpreted by economists. We propose a…

Byeungchun Kwon

Taejin Park

Phurichai Rungcharoenkitkul

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Frank Smets

Deputy Head, MED

All BIS publications (14)

Parsing the pulse: decomposing macroeconomic sentiment with LLMs

Market whiplash after the 2025 tariff shock: an event-targeted VAR approach

Monetary policy with profit-driven inflation

System-wide dividend restrictions: evidence and theory

Energy shocks as Keynesian supply shocks: implications for fiscal policy

Booms and banking crises

Output gap uncertainty: does it matter for the Taylor rule?

Why does the yield curve predict economic activity? Dissecting the evidence for Germany and the United States

Financial asset prices and monetary policy: theory and evidence

All external publications (95)

Sovereign debt and monetary policy in the euro area

Slow recoveries: a structural interpretation

The determination of wages of newly hired employees: survey evidence on internal versus external factors

Financial markets: productivity, procyclicality and policy

Imbalances in the euro area and the ECB's response (chapter 4 in "Governance for the Eurozone: Integration or disintegration?")

The real and financial effects of Basel III

Unemployment in an estimated new Keynesian model

De Economische Monetaire Unie: uitkomsten en uitdagingen

Downward wage rigidities and optimal monetary policy in a monetary union

All speeches (2)

Anchoring trust in money: innovation beyond stablecoins

Cross-border payments - a catalyst for global integration and growth

All videos (10)

Session 7 - Panel discussion: Future challenges for monetary policy in the Americas

All podcasts (8)

Media briefing on the BIS Quarterly Review, September 2026

BIS Media Briefing - Annual Economic Report 2026

Anchoring trust in a digital era - tokenisation, stablecoins and the two tier system

BIS Media Briefing - Anchoring trust in money: innovation beyond stablecoins

Media briefing on the BIS Quarterly Review, March 2026

Media briefing on the BIS Quarterly Review, December 2025

Media briefing on the BIS Quarterly Review, September 2025

Media briefing on the BIS Quarterly Review, March 2025

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