The purpose of this study is to assess the current state of understanding about the effects of monetary policy, both at the conceptual level and in the light of the experience of the seven major OECD countries (the United States, Japan, Germany, France, the United Kingdom, Italy and Canada) and...

The aim of this paper is to provide an assessment of the medium-term financial strategies operating in and available to OECD economies. Three issues are discussed: first, the rationale for the increasing adoption of medium-term budgetary and monetary objectives; second, the appropriate criteria...

[fre] Partant de l'expérience des grands pays de l'O.C.D.E. depuis le début des années quatre-vingt, cet article aborde trois séries de questions : les banques centrales doivent-elles continuer d'annoncer des objectifs de croissance monétaire ? Quelles autres variables peuvent-elles choisir...

[eng] This article discusses several of the medium-term orientation O.E.C.D. countries economic policies in the 1980s, concentrating monetary and fiscal instruments. The developments that led to the adoption of such a « medium-term egy », and the apparent analytical rationale for it, are first...