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Chocs de spread, liquidité du marché interbancaire et politique monétaire

Author

Listed:
  • Cécile Bastidon

    (LEAD - Laboratoire d'Économie Appliquée au Développement - UTLN - Université de Toulon, CAC-IXXI, Complex Systems Institute)

  • Philippe Gilles

    (UTLN UFR SEG - Université de Toulon - UFR Sciences économiques et de gestion - UTLN - Université de Toulon)

  • Nicolas Huchet

    (LEAD - Laboratoire d'Économie Appliquée au Développement - UTLN - Université de Toulon)

Abstract

RESUME :Les crises génératrices d'effets d'amplification conduisent les banques centrales à intervenir horsdu périmètre conventionnel de la politique monétaire. Notre objet est de spécifier une règle decomportement intégrant cette mission. Notre modèle, fondé sur la prise en considération desconditions de financement de l'économie au travers des prix et des quantités, inclut l'existenced’un lien positif, en période de crise, entre hausse des spreads et demande excédentaire definancements. Cette prise en compte permet d’appréhender les modalités d’intervention au titredes « politiques monétaires non conventionnelles », et singulièrement de quantifier les achats detitres publics.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Cécile Bastidon & Philippe Gilles & Nicolas Huchet, 2012. "Chocs de spread, liquidité du marché interbancaire et politique monétaire," Post-Print hal-03318517, HAL.
    • Handle: RePEc:hal:journl:hal-03318517
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    1. Nicolas Moumni & Benaissa Nahhal, 2014. "Impact of Liquidity Level on the Monetary Policy Transmission Effectiveness of the Moroccan Central Bank (Bank Al Maghrib)," International Journal of Economics and Financial Issues, Econjournals, vol. 4(4), pages 801-818.

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    More about this item

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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