Central banks should dispose of a precise measure of the structural inflation, i.e. the inflation adjusted from the economic cycle. This component of inflation, also called core inflation, is deduced from a structural VAR. Economists agree upon the long-term neutrality of inflation on...

Since the early 1990's, the total investment in the business sector seems to be lower than the level predicted by the dynamics prevailing in the 1980's. The usual explanatory variables of investment (demand, profit, degree of utilization capacity) are not sufficient to explain its evolution in...