This work investigates the impact of an increase in the money supply on inflation using DSGE model in Madagascar. The results showed a strong positive correlation between these two variables, confirming the economic theory that an increase in the money supply leads to a proportional increase in...

Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This "divorce'' of...

Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This "divorce'' of...

This manuscript revisits some key concepts of traditional macroeconomics. In the first step, it proposes a discussion on the equilibrium conditions on the market of goods and services and on the market of money. And in the second step, a discussion is conducted on the general equilibrium the...

The past three decades, developing countries have not spared of all international financial changes. They almost followed the same historical trends. Today, the destabilizing effects of financial liberalization affect even developed economies. The finding is iconic and risk economic policy. This...

Cette étude revient sur la distinction établie entre deux règles de fixation irrévocable des cours de change : une règle temporelle suivant laquelle le gel de la parité est programmé à une date arbitraire; une règle d'état sous laquelle cette décision résulte de l'atteinte d'un seuil...

In this paper, we try to illustrate the interest of the Bayesian approach for the evaluation of economic policies, often realised by analysing the response of the economy to a standard shock. We present a Stochastic Dynamic General Equilibrium model for the euro area. The Bayesian estimation...

Statistical tests in vector autoregressive (VAR) models are typically based on large-sample approximations, involving the use of asymptotic distributions or bootstrap techniques. After documenting that such methods can be very misleading even with fairly large samples, especially when the number...

L’objet de cet article est de présenter les principales conclusions du panel, organisé lors des VIIIe « Journées » de la Fondation Banque de France pour la recherche en économie monétaire, bancaire et financière le 21 juin 2010, sur le thème des stratégies de politique monétaire...

In this paper, we review the macroeconomic literature on financial frictions and banking in a dynamic general equilibrium framework. Our work focuses first on the pioneer articles that have analyzed the amplification effects associated to the financial accelerator. We then shift our attention...