Clemence Lenoir, Passion for Economics in Public Policy Service

After her preparatory classes in business, Clémence Lenoir (2010 economics and management cohort) chose ENS Paris-Saclay, 'the royal road to a thesis,' an idea already brewing in her mind. She experienced her first year at the School's Department of Economics and Management as 'an intellectual shock,' to the extent that she took a gap year to ponder the next steps in her journey. She undertook two internships: one in a strategy consulting firm, and the other in development economics. 'I clearly preferred the latter, which motivated me to pursue a Master's in Economics, and then to apply for the dual program (3rd and 4th year) with the National School of Statistics and Economic Administration (ENSAE)’. At the end of the third year, she headed to Marseille for a research internship in health economics at the Aix-Marseille School of Economics, then returned to Paris to pursue her research master's in analysis and economic policy at the Paris School of Economics. 'I specialized in international economics, a field that allowed me to combine theoretical approaches to macroeconomics with empirical approaches. I could rely on very precise data that allowed me to empirically test model predictions.'

From Yale to the Élysée

The young student embarked on a thesis in international economics, supervised by Isabelle Méjean and Francis Kramarz, professors at the Center for Research in Economics and Statistics (Crest) of ENSAE. She was one of three ENSAE students selected [1] to carry it out as an administrator at the National Institute of Statistics and Economic Studies (INSEE), a directorate of the Ministry of Economy and Finance. During her thesis, she spent six months in the United States on an academic exchange at Yale University, an experience that would leave a lasting impression. 'It was fantastic!' she recalls. 'I was immersed in an international environment with the best researchers in my field.'

After defending her thesis, Clémence Lenoir joined the General Directorate of the Treasury in 2019, first in the labor market bureau, then alongside Agnès Bénassy-Quéré, the chief economist. 'This administration provides economic policy advice to decision-makers,' she explains. In other words, the ideal springboard to later become a macroeconomic advisor at Bruno Le Maire's office, then a macroeconomics and public policy advisor at Elisabeth Borne's office before moving to the Presidency of the Republic in November 2023. 'It all happened very smoothly,' she affirms.

Economics Close to Decision-Making

'I am increasingly involved in applied economics and close to decision-making, which is what I have always wanted,' testifies Clémence, who enjoys nothing more than confronting economic models with concrete data, moving from empirical predictions to results. 'All of this helps shed light on various public policies: employment, housing, taxation.' The trend in the public sphere today is to rely on (good) figures to prove the effectiveness of a policy. 'As an advisor to the Prime Minister and the President of the Republic, I bear my share of responsibility for assessing the impact of implemented policies.'

Bridging Research and Decision-Making

Where does the young advisor draw this natural ease from? 'From research, unquestionably. It creates a sort of horizontal discussion in intellectual discourse,' responds Clémence, who had already noticed this during her stay at Yale. 'Professors from Princeton, MIT, Yale, and doctoral students challenged each other on equal terms without it being shocking. As long as the counterarguments were relevant, they had the right to be voiced. The goal was to examine them all to make the reasoning as robust as possible.' This acquired skill is now 'a great asset' in Clémence Lenoir's profession, thanks in particular to her training at ENS Paris-Saclay. 'We learn to learn and understand there. Whenever I don't understand something, I take the time to search. If I identify a flaw in the reasoning, I rigorously break down the phenomena and the cause-and-effect relationships.'

What can one wish for a high-achieving student who shines in the shadow of the highest echelons of the state? 'Precisely, I would like to "zoom out" from France one day to see what's happening in an international institution.'

[1] The first year of the thesis corresponded to additional training within INSEE, and the following two years had a young researcher status within ENSAE.