A 'Hybrid' Monetary Policy Model: Evidence from the Euro Area

14 Pages Posted: 16 Dec 2001

See all articles by Jean-Guillaume Sahuc

Jean-Guillaume Sahuc

Banque de France; Université Paris Ouest - Nanterre, La Défense - EconomiX

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Date Written: December 2001

Abstract

The New IS and Phillips Curves state that output and inflation are purely forward-looking but this theory is conflicting with the empirical results. This note analyses how an augmented version of those curves, called hybrid IS and Phillips curves are more consistent with the data properties.

Keywords: Euro area, habit formation, IS curve, Phillips curve, rule of thumb, monetary policy rule

JEL Classification: C32, E17

Suggested Citation

Sahuc, Jean-Guillaume, A 'Hybrid' Monetary Policy Model: Evidence from the Euro Area (December 2001). Available at SSRN: https://ssrn.com/abstract=293189

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