Advanced Search
MyIDEAS: Login to save this article or follow this journal

Politique monétaire de la bce et inertie des taux d'intérêt. Quel rôle pour les indicateurs d'inflation nationaux ?

Contents:

Author Info

  • Julien Licheron

Abstract

This paper investigates two hypotheses regarding the influence of national considerations in the ecb interest-rate setting. The first hypothesis is related to the institutional framework of the Eurosystem, with a predominance of national representatives in the ecb Governing Council. The second hypothesis is more strategic: the ecb may be careful not to push one or several countries into deflation when raising its interest rates. Those two hypotheses are tested using an augmented specification of the Taylor rule. Our results suggest that national considerations matter in the ecb decision-making, especially due to the fear of pushing individual countries toward deflation. Interestingly, inflation dispersion among emu countries also seems to provide an explanation for the high inertia in euro area interest rates. Classification JEL : E31, E52, E58.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_603_0713
Download Restriction: restricted

File URL: http://www.cairn.info/revue-economique-2009-3-page-713.htm
Download Restriction: restricted

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 60 (2009)
Issue (Month): 3 ()
Pages: 713-725

as in new window
Handle: RePEc:cai:recosp:reco_603_0713

Contact details of provider:
Web page: http://www.cairn.info/revue-economique.htm

Related research

Keywords:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Christina Badarau & Grégory Levieuge, 2011. "Which policy-mix to mitigate the effects of financial heterogeneity in a monetary union?," Larefi Working Papers 1109, Larefi, Université Bordeaux 4.
  2. Hamza Bennani, 2013. "Does the ECB consider the persistence of inflation differentials?," Economics Bulletin, AccessEcon, vol. 33(3), pages 2129-2139.
  3. Imen Mohamed Sghaier & Zouheir Abida, 2013. "Monetary Policy Rules for a Developing Countries: Evidence from Tunisia," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 5(1), pages 035-046, June.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_603_0713. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.