The Macroeconomic Risk Chair is an initiative created by the SCOR Foundation for Science and the Paris School of Economics to develop and disseminate research on topics related to macroeconomic risk, an area of shared interest for both institutions.
Reinsurance sits at the top of the risk hierarchy, and SCOR intends to be at the forefront of expertise and research in this field. While insurers can draw on dependable statistics for burglaries or fires, reinsurers are exposed to systemic risks, of which macroeconomic risk is the most difficult to assess.
Changes in interest rates and exchange rates, sovereign default, financial contagion, and sudden movements in commodity prices or asset values are all shocks that are difficult to model and predict. Understanding them is essential, however, because they affect reinsurers' ability to compensate their clients. Analyzing the causes and consequences of such risks is a central goal of macroeconomics, one of PSE’s core research areas.
Engagement in public debate, particularly on major economic policy questions, is a hallmark of PSE. Its partnerships with private companies reflect this same commitment. Beyond their growing awareness of contemporary global issues, business and financial leaders increasingly recognize the value of rigorous economic analysis. Decision-makers need to understand the essential mechanisms of the global economy and to evaluate empirical evidence critically. The Macroeconomic Risk Chair exemplifies this approach.
The activities of 2025, presented in this report, further strengthened the relationship between the SCOR Foundation and PSE. The Chair continued its program of events, organized around the research themes established when the Chair was renewed: growth risks, risks related to the sustainability of monetary and fiscal policies, political and economic risks, and risks related to health crises.
