IDEAS home Printed from https://ideas.repec.org/a/cai/rferfe/rfe_183_0127.html
   My bibliography  Save this article

Les banques centrales peuvent-elles encore être indépendantes ?

Author

Listed:
  • Christophe Blot

Abstract

This paper deals with the independence of central banks. It provides a critical analysis of the foundations of the model that emerged in the 1990s and analyses its recent development. Central banks are now heavily involved in financial stability issues and the implementation of unconventional measures have magnified interactions with fiscal policy. We therefore suggest that the independence of central banks is not a sufficient condition for the effectiveness of economic policies. The broadening of their mandate and the interactions with fiscal policy and financial regulation call instead to strengthen the democratic control of central banks and the coordination between monetary policy, fiscal policy and prudential policy. To this end, we propose to change the composition of the committees in charge of the implementation of monetary and financial regulation policies in order to internalize externalities and coordinate decisions.

Suggested Citation

  • Christophe Blot, 2018. "Les banques centrales peuvent-elles encore être indépendantes ?," Revue française d'économie, Presses de Sciences-Po, vol. 0(3), pages 127-164.
  • Handle: RePEc:cai:rferfe:rfe_183_0127
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RFE_183_0127
    Download Restriction: free

    File URL: http://www.cairn.info/revue-francaise-d-economie-2018-3-page-127.htm
    Download Restriction: free
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:rferfe:rfe_183_0127. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-francaise-d-economie.htm .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.