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Confiance et ajustement dans les régimes d'étalon-or et de caisse d'émission

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Author Info

  • Jean-Baptiste Desquilbet

    ()
    (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR6221 - Université d'Orléans)

  • Nikolay Nenovsky

    ()
    (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR6221 - Université d'Orléans)

Abstract

Les régimes de caisse d'émission et d'étalon-or sont souvent assimilés, étant considérés comme des règles monétaires contraignantes, dont les deux caractéristiques essentielles sont la crédibilité des autorités monétaires et l'existence d'un mécanisme d'ajustement automatique (non discrétionnaire). Cet article présente une analyse comparative de ces deux régimes (1) du point de vue des sources de la confiance, à savoir la convertibilité, l'endogénéité et le contexte internationale, et (2) en regardant le fonctionnement du mécanisme d'ajustement, plus spécifiquement l'environnement financier, l'automatisme et l'asymétrie.

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Bibliographic Info

Paper provided by HAL in its series Post-Print with number halshs-00008096.

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Date of creation: 01 Dec 2005
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Publication status: Published, Mondes en développement, 2005, 33, 130, 77-93
Handle: RePEc:hal:journl:halshs-00008096

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00008096/en/
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Keywords: Régime monétaire ; étalon-or ; caisse d'émission;

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  1. Bordo, Michael D. & MacDonald, Ronald, 2003. "The inter-war gold exchange standard: credibility and monetary independence," Journal of International Money and Finance, Elsevier, vol. 22(1), pages 1-32, February.
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  12. della Paolera, Gerardo & Taylor, Alan M., 2002. "Internal versus external convertibility and emerging-market crises: lessons from Argentine history," Explorations in Economic History, Elsevier, vol. 39(4), pages 357-389, October.
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