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Excès de liquidité monétaire et prix des actifs.

Gouteron, S.; Szpiro, D. - Banque de France - 2005

The recent rise of excess liquidity in the United States and in the euro zone did not result in a resurgence of … inflation. Excess liquidity, rather than heading towards the market of consumer goods, could have moved towards the asset … Kingdom and Japan, there's no element pointing out an effect of excess liquidity on asset prices: there is no common trend in …

Persistent link: https://www.econbiz.de/10005056539

Impact of the crisis on potential growth: An approach based on unobserved component models (in french)

Lemoine, M.; de la Serve, M.E.; Chetouane, M. - Banque de France - 2011

This article aims at evaluating potential growth for France, Germany and the euro area during the period from after the 2007-2008 credit crisis until 2012. Such an assessment plays a central role in the determination of the structural deficit and therefore in the definition of consolidation...

Persistent link: https://www.econbiz.de/10009205030

The art of central banking of the ECB and the separation principle.

Clerc, L.; Bordes, C. - Banque de France - 2010

credit policy, which is driven by short-term imperatives and consists in supplying the banking system with liquidity in the …

Persistent link: https://www.econbiz.de/10008548998

Comportement du banquier central en environnement incertain

Avouyi-Dovi, S.; Sahuc, J-G. - Banque de France - 2009

Several recent papers are devoted to the examination of the central banker's behaviour in an uncertain economic environment. This paper proposes, from a central banker's point of view, a synthesis of the main sources of uncertainty as well as an illustration of their effects within an analytical...

Persistent link: https://www.econbiz.de/10008479237

Les ajustements microéconomiques des prix : une synthèse des modèles théoriques et résultats empiriques.

Gautier, E. - Banque de France - 2008

Microeconomic price rigidity is one of the main assumptions of the neo-keynesian macroeconomic models. Firms are not able to adjust continuously their prices. In this paper, we make a synthesis of the main microeconomic price setting theoretical models and of their empirical counterparts. Price...

Persistent link: https://www.econbiz.de/10008528492

La prévision des taux d’intérêt à partir de contrats futures : l’apport de variables économiques et financières

Coffinet, J. - Banque de France - 2008

Persistent link: https://www.econbiz.de/10008528497

Réformes structurelles sur le marché du travail : quels enseignements peut-on tirer des études existantes ?

Fougère, D. - Banque de France - 2006

In general, empirical studies having evaluated with firm individual data the effects of structural labour market reforms in European countries do not reach unambiguous conclusions. In particular, they find that reforms increasing incentives to lower the number of temporary labour contracts do...

Persistent link: https://www.econbiz.de/10004998818

Understanding Asset Prices: Determinants and Policy Implications.

Clerc, L. - Banque de France - 2007

, the role played by "excess liquidity" in shaping current developments. Additional factors related to fierce competition in …

Persistent link: https://www.econbiz.de/10004998854

Règle de Taylor et politique monétaire dans la zone euro

Mésonnier, J-S.; Renne, J-P. - Banque de France - 2004

We estimate the reaction function of monetary policy in the Euro area and derive the Taylor-type policy rule that a would-be ECB would have followed since the beginning of the European Monetary System (1979-2003). We first follow the standard GMM methodology developed by Clarida, Galí and...

Persistent link: https://www.econbiz.de/10005056522

Banque centrale, taux de l'escompte et politique monétaire chez Henry Thornton (1760-1815).

Mésonnier, J-S. - Banque de France - 2002

Henry Thornton (1760-1815), whose major work - An Enquiry into the Nature and Effects of the Paper Credit of Great Britain - is celebrating its bicentennary in 2002, is considered today to be one of the most prominent classical monetary economist, in particular with regard to its seminal...

Persistent link: https://www.econbiz.de/10005056526