Advanced Search
MyIDEAS: Login

Indexation des salaires, discrétion et réputation dans un modèle de politique monétaire

Contents:

Author Info

  • Giuseppe Diana

Abstract

[fre] Indexation des salaires, discrétion et réputation dans un modèle de politique monétaire. . La conduite discrétionnaire de la politique monétaire conduit à un biais inflationniste. Les résultats décevants obtenus par l'approche réputationnelle, initiée par Barro et Gordon [1983], pour résorber ce biais reposent sur un comportement statique et peu réaliste, à nos yeux, des agents du secteur privé. L'introduction d'un mécanisme d'indexation permet de dépasser ce caractère statique et d'endogénéiserles représailles du secteur privé. Dans ce contexte, nous parvenons à mettre en évidence l'existence d'équilibres réputationnels en horizon fini et infini. Nous démontrons qu'en horizon fini le biais inflationniste caractérisant l'équilibre est décroissant avec le pouvoir de rattrapage salarial du secteur privé. Enfin, en horizon infini, nous parvenons à démontrer l'existence d'un équilibre réputationnel caractérisé par un biais inflationniste nul. [eng] Wage indexation, discretion and reputation in a model of monetary policy. . Discretionary monetary policy leads to an inflationary bias. The disappointing results obtained by the reputation building approach, initiatedby Barro and Gordon [1983] to solve this bias, rely on a static and non realistic behaviour of the private sector's agents. By integrating indexation in their behaviour, we demonstrate the existence of a reputational equilibrium in both finite and infinite horizon models. Moreover, we demonstrate that, in a finite horizon model, the equilibrium inflationary bias is decreasing with the indexing parameter. Finally, when the horizon becomes infinite, we obtain a reputational equilibrium with no inflationary bias.

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.persee.fr/web/revues/home/prescript/article/reco_0035-2764_2002_num_53_1_410390
Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

File URL: http://www.persee.fr/articleAsPDF/reco_0035-2764_2002_num_53_1_410390/reco_0035-2764_2002_num_53_1_410390.pdf?mode=light
Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

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 Programme National Persée in its journal Revue économique.

Volume (Year): 53 (2002)
Issue (Month): 1 ()
Pages: 43-61

as in new window
Handle: RePEc:prs:reveco:reco_0035-2764_2002_num_53_1_410390

Note: DOI:10.2307/3503014
Contact details of provider:
Web page: http://www.persee.fr/web/revues/home/prescript/revue/reco

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

References

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

Citations

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:prs:reveco:reco_0035-2764_2002_num_53_1_410390. 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: (Equipe PERSEE).

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.