This paper is dedicated at reconsidering objectives and instruments of monetary policy and also at redefining a policy mix in an economy which is systematically confronted to imbalances due to changes in technology, in the composition of demand or in the distribution of income, It is motivated...

In this article we estimate a time-varying " natural " rate of interest (TVNRI) for a synthetic euro area over the period 1979Q1-2002Q4 using a small backward-looking macroeconomic model, broadly following a methodology developed by Laubach and Williams (2003) for the United States. The Kalman...

Interprovincial migration has increased significantly in Canada since 2003. This article develops a methodology to estimate total output gains due to interprovincial migration from two sources: gains due to increased employment, and gains due to re-allocation of workers between provinces with...

Le modèle OPTIM permet de prévoir, chaque mois, les taux de croissance du PIB de la France et de ses principales composantes, pour le trimestre en cours et le trimestre suivant. Ce modèle mobilise un large éventail de données macro-économiques mensuelles et de données d’enquête,...

La microfinance a fait l’objet d’un colloque organisé par la Banque de France en juillet 2011. Les participants ont souligné son utilité comme outil d’inclusion financière, de développement économique et de lutte contre la pauvreté en s’appuyant sur les expériences des pays du...

This paper examines the causality relationship between immigration, Unemployment and economic growth of the host country. We employ the panel Granger causality testing approach of Kónya (2006) that is based on SUR systems and Wald tests with country specific bootstrap critical values. This...