JEAN GUILLAUME SAHUC CURRICULUM VITAE PERMANENT AFFILIATION CONTACT DETAILS APPOINTMENTS AND EXPERIENCE EDUCATION

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1 JEAN GUILLAUME SAHUC PERMANENT AFFILIATION Banque de France Financial Economics Research Division 31 rue Croix des Petits Champs F-75049, Paris France CONTACT DETAILS Office: (+33) Fax: (+33) Homepage: APPOINTMENTS AND EXPERIENCE 10/2015 present: Banque de France, Monetary and Financial Analysis Directorate Head of Division 12/ /2015: Banque de France, Monetary and Financial Analysis Directorate Deputy Head of Division 01/ /2011: EDHEC Business School, Department of Economics Professor of Economics 12/ /2010: Banque de France, Microeconomic and Structural Analysis Directorate Senior Economist 07/ /2010: Audencia School of Management, Research Department Research Fellow 09/ /2006: European Central Bank, Monetary Policy Research Division Visiting Scholar 12/ /2007: Banque de France, Research Directorate Economist 01/ /2004: Banque de France, Research Directorate Junior Economist EDUCATION 2004: PhD in Economics, University of Evry Val d Essonne 2000: D.E.A. (postgraduate degree) in Econometrics (with honors), University of Evry Val d Essonne 1999: Master s in Econometrics (with honors), University of Evry Val d Essonne November 2015 Page 1

2 RESEARCH INTERESTS Macroeconomics; Monetary and Financial Economics ; Applied Time Series Econometrics AWARDS 2005: Banque de France Prize of Best Thesis on Monetary Economics BOOK Politique Monétaire, 2 nd Edition, De Boeck (with F. Drumetz and C. Pfister) JOURNAL ARTICLES On the Sources of Macroeconomic Stability in the Euro Area European Economic Review (with S. Avouyi-Dovi), forthcoming On the Size of the Government Spending Multiplier in the Euro Area Oxford Economic Papers, 2015, 67, pp (with P. Fève) A Pitfall with Estimated DSGE-Based Government-Spending Multipliers American Economic Journal: Macroeconomics, 2013, 05, pp (with P. Fève and J. Matheron) Welfare Implications of Heterogeneous Labour Markets in a Currency Union Macroeconomic Dynamics, 2013, 17, pp (with C. Poilly) Externality in Labor Supply and Government Spending Economics Letters, 2011, 112, pp (with P. Fève and J. Matheron) On the Welfare Costs of Misspecified Monetary Policy Objectives Journal of Macroeconomics, 2011, 33, pp (with S. Avouyi-Dovi) Inflation Target Shocks and Monetary Policy Inertia in the Euro Area The Economic Journal, 2010, 120, pp (with P. Fève and J. Matheron) Disinflation Shocks in the Eurozone: A DSGE Perspective Journal of Money, Credit and Banking, 2010, 42, pp (with P. Fève and J. Matheron) Minimum Distance Estimation and Testing of DSGE Models from Structural VARs Oxford Bulletin of Economics and Statistics, 2009, 71, pp (with P. Fève and J. Matheron) On the Dynamic Implications of News Shocks Economics Letters, 2009, 102, pp (with P. Fève and J. Matheron) Optimal Monetary Policy in an Estimated DSGE Model of the Euro Area with Cross-country Heterogeneity International Journal of Central Banking, 2008, 4, pp (with E. Jondeau) November 2015 Page 2

3 Testing Heterogeneity within the Euro Area Economics Letters, 2008, 99, pp (with E. Jondeau) Differences in Interest Rate Policy at the ECB and the Fed: An Investigation with a Medium- Scale DSGE Model Journal of Money, Credit, and Banking, 2008, 40, pp (with F. Smets) Partial Indexation, Trend Inflation, and the Hybrid Phillips Curve Economics Letters, 2006, 90, pp Incorporating Labour Market Frictions into an Optimising-Based Monetary Policy Model Economic Modelling, 2005, 22, pp (with S. Moyen) Partial Indexation and Inflation Dynamics: What Do the Data Say? Applied Economics Letters, 2004, 11, pp A Hybrid Monetary Policy Model: Evidence from the Euro Area Applied Economics Letters, 2002, 9, pp in French Règles Budgétaires Strictes et Stabilité Macroéconomique : Le Cas de la TVA Sociale Revue Economique, 2014, 65, pp (with P. Fève and J. Matheron) Désinflation et Chômage dans la Zone Euro : Une Analyse à l Aide d un Modèle VAR Structurel Annals of Economics and Statistics, 2011, 99/100, pp (with P. Fève and J. Matheron) La TVA Sociale : Bonne ou Mauvaise Idée? Economie et Prévision, 2010, 193, pp (with P. Fève and J. Matheron) Comportement du Banquier Central en Environnement Incertain Revue d Economie Politique, 2009, 119, pp (with S. Avouyi-Dovi) Une Estimation de la Cible Implicite d Inflation dans la Zone Euro Revue Française d Économie, 2009, 24, pp (with P. Fève and J. Matheron) Chocs d Offre et Optimalité de la Politique Monétaire dans la Zone Euro Revue Economique, 2008, 59, pp (with P. Fève and J. Matheron) Le Modèle d Equilibre Général de la «Nouvelle Synthèse» : Quelles Hypothèses Retenir? Economie et Prévision, 2008, , pp (with S. Moyen) Règles de Politique Monétaire en Présence d Incertitude : Une Synthèse Revue d Economie Politique, 2002, 112, pp (with H. Le Bihan) Institutional The Sovereign Debt Crisis and Monetary Policy Financial Stability Review, 2012, 16, pp (with J. Matheron and B. Mojon) La Fonction de Demande de Monnaie : Un Réexamen Bulletin de la Banque de France, 2005, 141, pp (with S. Avouyi-Dovi, M. Brun, A. Dreyfus, F. Drumetz, V. Oung) November 2015 Page 3

4 Estimation d une Fonction de Demande de Monnaie pour la Zone Euro : Une Synthèse des Résultats Bulletin de la Banque de France, 2003, 111, pp (CMDM network) Monetary Regime Switches in the Euro Area Chapter in Books Econometrics: New Research, Nova Science Publishers, 2012, pp (with S. Avouyi-Dovi) WORKING PAPERS papers are available at A DSGE Model of Endogenous Systemic Risk In progress, 2015 (with E. Jondeau) Maturity Mismatch and the Monetary Transmission Mechanism In progress, 2015 (with X. He and S. Moyen) An Inequality View of International Capital Flows In progress, 2015 (with J. Matheron and E. Mengus) Macroeconomic Implications of Fiscal Consolidation in France In progress, 2015 (with S. Avouyi-Dovi) Assessing the Macroeconomic Effects of LTROs Under Revision, 2015 (with C. Cahn and J. Matheron) The Laffer Curve in an Incomplete-Market Economy Under Revision, 2015 (with P. Fève and J. Matheron) In Search of the Transmission Mechanism of Fiscal Policy in the Euro Area R&R Journal of Applied Econometrics, 2015 (with P. Fève) UNPUBLISHED MANUSCRIPTS Monetary Regimes and Markov-Switching Models: An International Comparison (2009), with S. Avouyi-Dovi and F. Drumetz. Information-Based Inflation Inertia (2008), with F. Collard. Optimal Monetary Policy and Technology Shocks in the Post-War US Business Cycle (2007), with P. Fève and J. Matheron. November 2015 Page 4

5 TEACHING EXPERIENCE Undergraduate level: Microeconomics [ESPEME-EDHEC Business School, 2011], Macroeconomics [University Paris I - Panthéon Sorbonne, ] Graduate level: Macroeconomics [EDHEC Business School, ], Applied Monetary Economics [University of Evry, ], Matlab Programming [University of Dauphine, ], Gauss Programming [University of Evry, ], Econometrics [University of Evry, ] CONFERENCE AND SEMINAR PRESENTATIONS OR DISCUSSIONS T2M (Berlin, 2015), INSEE Seminar (Paris, 2014), Oxford University Seminar (Oxford, 2014), European Economic Association (EEA) Annual Congress (Goteborg, 2013), International Conference on Macroeconomic Modeling in Times of Crisis (Paris, 2012), European Economic Association (EEA) Annual Congress (Oslo, 2011), Seminar (Audencia School of Management, 2010), Seminar (Edhec Business School, 2010), Seminar (Audencia School of Management, 2009), Workshop, Money Demand (European Central Bank, 2008), DSGE Paris Trilateral Workshop (French Ministry of the Economy, Finance and Industry, 008), French Economic Association (AFSE) Annual Congress (Paris, 2008), T2M Conference (University of ergy- Pontoise, 2008), French Economic Association (AFSE) Annual Congress (Paris, 2007), 3rd Dynare Conference (Paris School of Economics, 2007), T2M Conference (Ecole Normale Supérieure Lyon, 2005), Workshop Monetary Policy Implications of Heterogeneity in a Currency Area (European Central Bank, 2004), Fourgeaud Seminar: Etudier la macroéconomie aujourd hui : deux voies (French Ministry of the Economy, Finance and Industry, 2004), Seminar (CEPREMAP, 2004), Internal Seminar (European Central Bank, 2004), French Economic Association (AFSE) Annual Congress (Paris, 2003), European Economic Association (EEA) Annual Congress (Stockholm, 2003), Fourgeaud Seminar (French Ministry of the Economy, Finance and Industry, 2003), Workshop: Modelling and forecasting wage and price dynamics in France, the US and the euro area (Banque de France, 2002), Fourgeaud Seminar (French Ministry of the Economy, Finance and Industry, 2002), French Economic Association (AFSE) Annual Congress (Paris, 2001). PROFESSIONAL SERVICE Co-organizer, International Symposium (Banque de France and Bundesbank, 2015), Joint Macro- Workshop (Banque de France and Bundesbank, 2014, 2015), International Conference on Macroeconomic Modeling in Times of Crisis (Banque de France, Fed of Atlanta, Cepremap and CAS, 2012), Workshop on Structural Analysis in Times of Crisis (Banque de France, 2010), International Conference on DSGE Modelling and Monetary Policy (Banque de France and CEPREMAP, 2008), Workshop on Monetary Models and Aggregate Dynamics (Banque de France, 2005). November 2015 Page 5

6 Program Committee, International Conference on Wage Bargaining, Employment and Monetary and Economic Policies (Banque de France, 2007), Workshop on Small Monetary Macromodels (Banque de France, 2004) Referee: American Economic Review (1), European Economic Review (1), Journal of Economic Dynamics and Control (1), Macroeconomic Dynamics (3), Journal of Macroeconomics (3), Labour Economics (1), International Journal of Central Banking (2), Journal of Forecasting (1), The B.E. Journal of Macroeconomics (1), Economic Modelling (2), Applied Economics (1), Annals of Economics and Statistics (1), Economie et Prévision (1), Revue d Economie Politique (2), Revue Economique (3), and Revue du CEPII (1). Member of PhD Committee: Aurélien Poissonnier (Ecole Polytechnique, December 2015) French Representative (i) at the SAPI task force of the European Central Bank (2015) (ii) at the Working Group on Econometric Modelling of the European Central Bank ( ) November 2015 Page 6

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