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Pourquoi la Banque centrale doit être indépendante

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  • Niels Thygesen
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    Abstract

    [fre] L'article de Creel et Sterdyniak publié dans ce numéro critique le principe d'indépendance de la Banque centrale. Les auteurs ayant développé une analyse économique cohérente, il convient de se demander pourquoi ils sont arrivés à une conclusion strictement opposée à celle qui a été adoptée tant par les autorités françaises — qui ont accordé une plus grande indépendance à la Banque de France — que par les auteurs du Traité de Maastricht qui ont vu dans l'indépendance très poussée de la future Banque centrale européenne un élément essentiel de la construction de l'Union économique et monétaire. Ma réponse est que les auteurs ont une vision beaucoup trop idéaliste de la politique budgétaire et de son utilisation à des fins de régulation conjoncturelle. En effet, on peut contester chacune des quatre conclusions sur lesquelles ils s'appuient pour remettre en cause le schéma théorique qui sous tend l'analyse du Traité de Maastricht (p. 21).

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    File URL: http://dx.doi.org/10.3406/ofce.1995.1402
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    File URL: http://www.persee.fr/articleAsPDF/ofce_0751-6614_1995_num_54_1_1402/ofce_0751-6614_1995_num_54_1_1402.pdf?mode=light
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    Bibliographic Info

    Article provided by Programme National Persée in its journal Revue de l'OFCE.

    Volume (Year): 54 (1995)
    Issue (Month): 1 ()
    Pages: 101-104

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    Handle: RePEc:prs:rvofce:ofce_0751-6614_1995_num_54_1_1402

    Note: DOI:10.3406/ofce.1995.1402
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    Web page: http://www.persee.fr/web/revues/home/prescript/revue/ofce

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