Selon les modeles de type " revenu permanent - cycle de vie ", la consommation agregee des menages ne reagit qu'aux chocs de politique monetaire consideres comme durables. Cependant, dans les faits, on observe une " sensibilite excessive " de la consommation aux variations du revenu courant, qui...

Compared to other strategies of monetary policy, implementing a rule for direct targeting inflation presents many advantages in theory, essentially in terms of credibility. But many operational problems related to such rules lead to question about the choice of inflation forecasts. We realized...