Nous partons de l'idee que la credibilite portant sur les annonces de deficits publics, que nous appelons credibilite budgetaire, est devenue plus importante que la credibilite portant sur les annonces d'inflation, la credibilite monetaire usuelle. Nous construisons un modele theorique pour examiner les problemes que pose l'absence de credibilite budgetaire.
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Paper provided by Caisse des Depots et Consignations - Cahiers de recherche in its series Papers with number
2000-65/ma.
Length: 21 pages Date of creation: 2000 Date of revision: Handle: RePEc:fth:cadeco:2000-65/ma
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Find related papers by JEL classification: E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination