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behaviour adopted by Bank of France. Three points emerge from the study. (1) Before explaining the way franc was managed, we …. (2) The monetary management implemented by the Bank of France is both characterized by a discount rate policy and by the … the French monetary policymaking the paper will expose the peculiar policy implemented by Bank of France between 1928 and …
Persistent link: https://www.econbiz.de/10008794111
Persistent link: https://www.econbiz.de/10010898619
Britain, the United States, Germany, and France) and covers more than a century, starting in 1880. We explain that all these …
Persistent link: https://www.econbiz.de/10009151311
. On passe ainsi d'une aide au revenu garanti à une aide conditionnée au respect d'une obligation de travail. Si, en France … 1980 ont joué le rôle de période de transition aussi bien pour la France que pour les États-Unis : la décennie 80 a en …'emploi reposant sur la contrainte et la culpabilisation des allocataires – ce que l'on qualifie de workfare –, la France a fait le …
Persistent link: https://www.econbiz.de/10008791061
We study the impact of a broadening of the SDR basket to the Chinese currency on the composition and volatility of the basket. Although, in the past, RMB inclusion would have had negligible impact due to its limited weight, a much more significant impact can be expected in the next decades, and...
Persistent link: https://www.econbiz.de/10011025822
This article describes how the Trade Facilities Act (TFA) and the liquidation of certain government-owned assets spurred the industrial intervention of the Bank of England in the 1920s. What emerges is a much greater role of the Treasury in the Bank of England's industrial intervention than has...
Persistent link: https://www.econbiz.de/10009001267
In this contribution, it is shown that the ambivalence of institutional factors relatively to financial instability appears early in Minsky's first works, more precisely in the late fifties. The argument is developed in two main steps. First, on the basis of Minsky's analysis, I investigate the...
Persistent link: https://www.econbiz.de/10008789491
Based on panel data of 58 countries, of which 22 Inflation Targeters and 36 non Inflation Targeters, over the period 1980-2003, this paper highlights the effect of Inflation Targeting – IT- on Fiscal Discipline –FD-. We make four contributions to the literature. Firstly, by applying the 2SLS...
Persistent link: https://www.econbiz.de/10008794278
According to the literature, in an expectations-augmented Phillips curve model, opacity is always preferred to transparency on central bank forecasts. By modelling the private sector's behavior explicitly, we show that transparency reduces the shocks. Consequently, transparency can be preferred.
Persistent link: https://www.econbiz.de/10008804708
This paper provides a new framework for monetary macro-policy, where the Central Bank potentially intervenes both on short-term and long-term loans markets, and can do this alternatively by manipulating interest rates or money supply. Following Bonnisseau and Orntangar (2010) and Giraud and...
Persistent link: https://www.econbiz.de/10010635014