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The Behaviour of Producer Prices: some Evidence from the French PPI Micro Data.
Gautier, E. - Banque de France - 2006
This paper provides some new empirical features on price setting behaviour for French producers using micro data underlying the producer and business-services price indices over the period 1994-2005. Some crucial methodological issues on the collection of producer prices are raised. Then, the...
Persistent link: https://www.econbiz.de/10004998846
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Monetary Policy Inertia or Persistent Shocks?
Carrillo, J.; Fève, P.; Matheron, J. - Banque de France - 2006
In this paper, we propose a simple econometric framework to disentangle the respective roles of monetary policy inertia and persistent shocks in interest rate rules. The procedure exploits the cross-equation restrictions provided by a DSGE model which is confronted to a monetary SVAR. We show...
Persistent link: https://www.econbiz.de/10005082518
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Une estimation de la cible implicite d’inflation dans la zone euro
Fève, P.; Matheron, J.; Sahuc, J-G. - Banque de France - 2009
unemployment rate has increased and economic activity has been sluggish. Changes in the implicit inflation target, viewed as low … frequency movements of inflation, might possibly explain these developments. To highlight this issue, the present study … estimates the dynamics of the implicit inflation target in the euro zone over the period 1970Q1-2004Q4. Based on a small …
Persistent link: https://www.econbiz.de/10008477171
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Chocs d’Offre et Optimalité de la Politique Monétaire dans la Zone Euro
Fève, P.; Matheron, J.; Sahuc, J-G. - Banque de France - 2008
responses of output, inflation, labor share and the nominal interest rate to a supply shock as identified through a structural …
Persistent link: https://www.econbiz.de/10008528507
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How Well Does a Small Structural Model with Sticky Prices and Wages Fit Postwar U.S. Data?
Matheron, J.; Poilly, C. - Banque de France - 2006
In this paper, we ask whether a small structural model with sticky prices and wages, embedding various modelling devices designed to increase the degree of strategic complementarity between price-setters, can fit postwar US data. To answer this question, we resort to a two-step empirical...
Persistent link: https://www.econbiz.de/10004998832
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The Dynamic Effects of Disinflation Policies.
Collard, F.; Fève, P.; Matheron, J. - Banque de France - 2007
episode techniques, we identify disinflation shocks as shocks that drive the inflation rate to a lower level in the long … inflation rate increases above its long-run level and exhibits a positive hump-shaped response. A similar pattern is found for …
Persistent link: https://www.econbiz.de/10004998837
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Technology Shocks and Monetary Policy in an Estimated Sticky Price Model of the US Economy
Avouyi-Dovi, S.; Matheron, J. - Banque de France - 2005
In this paper, we, seek to characterize the dynamic effects of permanent technology shocks and the way in which US monetary authorities reacted to these shocks over the sample 1955(1)--2002(4). To do so, we develop an augmented sticky price-sticky wage model of the business cycle, which is...
Persistent link: https://www.econbiz.de/10005056524
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Technology Shocks and Monetary Policy in an Estimated Sticky Price Model of the Euro Area.
Avouyi-Dovi, S.; Matheron, J. - Banque de France - 2005
In this paper, we seek to characterize the dynamic effects of permanent technology shocks and the way in which European monetary authorities reacted to these shocks over the past two decades. To do so, we develop an augmented sticky price-sticky wage model of the business cycle, which is...
Persistent link: https://www.econbiz.de/10005056527
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Evaluating the Fit of Sticky Price Models
Matheron, J.; Maury, P-M. - Banque de France - 2004
fails at reproducing the spectrum of inflation. This unfortunate conclusion is robust to numerous alternative specifications. …
Persistent link: https://www.econbiz.de/10005056538
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Generalized Taylor and Generalized Calvo price and wage-setting: micro evidence with macro implications
Dixon, H.; Le Bihan, H. - Banque de France - 2011
found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …
Persistent link: https://www.econbiz.de/10008873323