Monnaie commune, décentralisation et inflation : Hujus Regio, Cujus Pecunia ?
Abstract[eng] Common Currency, Decentralization and Inflation : is the Â« Westphalian Model Â» relevant ? Marc Flandreau Is there a systematic relation between the organization of the decision making process within a monetary union and the average inflation rate that this union tends to produce ? More specifically, does decentralization leads to higher inflation ? Contrary to Casella and Feinstein  who build on a free rider argument to demonstrate that decentralization means inflation, we argue â on the basis of theoretical and historical analysis â that it is always possible to set up a number of decentralized incentive mechanisms which can be used to ruie out the alleged inflationary bias of decentralized monetary unions. [fre] Existe-t-il un lien systÃ©matique entre l'organisation du mÃ©canisme de dÃ©cision au sein d'une union monÃ©taire et le niveau d'inflation moyen que cette union tend Ã produire ? Autrement dit, une union dÃ©centralisÃ©e est-elle inflationniste ? A l'inverse de l'analyse de Casella et Feinstein (1989) qui utilise un argument de type Â« free rider Â» pour montrer que dÃ©centralisation Ã©gale inflation, cet article, en s'appuyant sur une rÃ©flexion Ã la fois thÃ©orique et historique, suggÃ¨re que le prÃ©tendu biais inflationniste des unions dÃ©centralisÃ©es peut Ãªtre corrigÃ© au moyen de mÃ©canismes eux-mÃªmes dÃ©centralisÃ©s.
Download InfoIf 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.
Bibliographic InfoArticle provided by Presses de Sciences-Po in its journal Revue de l'OFCE.
Volume (Year): n° 52 (1995)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.cairn.info/revue-de-l-ofce.htm
Other versions of this item:
- Marc Flandreau, 1995. "Monnaie commune, décentralisation et inflation : Hujus Regio, Cujus Pecunia ?," Revue de l'OFCE, Programme National Persée, vol. 52(1), pages 29-47.
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
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.