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Challenges of the “New Economy” for Monetary Policy
Cette, Gilbert; Pfister, Christian - In: International Productivity Monitor 8 (2004) Spring, pp. 27-36
-term inflation objectives. In the long term, monetary policy is most effective in achieving its objectives when the inflation target … is changed in response to the new economy and when the monetary authority attempts to stabilize both inflation and output … for in changing the assessment of the potential growth rate and the inflation target. …
Persistent link: https://www.econbiz.de/10005650259
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Règle de Taylor: estimation et interprétation pour la zone euro et pour le Luxembourg
Lünnemann, Patrick; Rouabah, Abdelaziz - Central Bank of Luxembourg - 2003
Dans cette contribution, nous tentons de mener une analyse sur la compatibilité du comportement de l'Eurosystème en matière de conduite de la politique monétaire avec la règle dite de Taylor. Cette dernière a pour ambition d'établir une ligne de conduite qui s'impose aux autorités...
Persistent link: https://www.econbiz.de/10009276977
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The Impact of the Basel III Liquidity Regulations on the Bank Lending Channel: A Luxembourg case study
Giordana, Gaston; Schumacher, Ingmar - Central Bank of Luxembourg - 2011
In this paper we study the impact of the Basel III liquidity regulations, namely the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR), on the bank lending channel in Luxembourg. For this aim we built, based on individual bank data, time series of the LCR and NSFR for a...
Persistent link: https://www.econbiz.de/10009283380
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Évaluation de l'état de préparation des pays de la ZMAO à la migration vers un cadre de ciblage de l'inflation
Olowofeso, Olorunsola E.; John-Sowe, Maimuna; Diallo, … - 2021
Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries … member countries' readiness to adopt inflation targeting regime as recommended by the Authority of Heads of State and … dominance, weak fiscal positions, and external shocks which impaired its ability to sustainably subdue inflation to the desired …
Persistent link: https://www.econbiz.de/10014278241
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The art of central banking of the ECB and the separation principle.
Clerc, L.; Bordes, C. - Banque de France - 2010
This paper examines the art of central banking as practised by the European Central Bank (ECB) through the prism of Goodfriend's (2009) determination of the three policies that fall within the remit of a central bank: monetary policy, which consists in varying the size of the balance sheet,...
Persistent link: https://www.econbiz.de/10008548998
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Politique monétaire, stabilité macroéconomique et changement structurel
Gaffard, Jean-Luc - Centre de recherche en Économie (OFCE), Sciences … - 2010
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...
Persistent link: https://www.econbiz.de/10008553076
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Banque centrale, taux de l'escompte et politique monétaire chez Henry Thornton (1760-1815).
Mésonnier, J-S. - Banque de France - 2002
Henry Thornton (1760-1815), whose major work - An Enquiry into the Nature and Effects of the Paper Credit of Great Britain - is celebrating its bicentennary in 2002, is considered today to be one of the most prominent classical monetary economist, in particular with regard to its seminal...
Persistent link: https://www.econbiz.de/10005056526
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Évaluation de l'état de préparation des pays de la ZMAO à la migration vers un cadre de ciblage de l'inflation
Olowofeso, Olorunsola E.; John-Sowe, Maimuna; Diallo, … - 2021
Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries … member countries' readiness to adopt inflation targeting regime as recommended by the Authority of Heads of State and … dominance, weak fiscal positions, and external shocks which impaired its ability to sustainably subdue inflation to the desired …
Persistent link: https://www.econbiz.de/10014234424
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Règle de Taylor et politique monétaire dans la zone euro
Mésonnier, J-S.; Renne, J-P. - Banque de France - 2004
We estimate the reaction function of monetary policy in the Euro area and derive the Taylor-type policy rule that a would-be ECB would have followed since the beginning of the European Monetary System (1979-2003). We first follow the standard GMM methodology developed by Clarida, Galí and...
Persistent link: https://www.econbiz.de/10005056522
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Les ajustements microéconomiques des prix : une synthèse des modèles théoriques et résultats empiriques.
Gautier, E. - Banque de France - 2008
on the inflation process. …
Persistent link: https://www.econbiz.de/10008528492