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Rationalité des anticipations et modèle de taux naturel : quelques résultats économétriques concernant la France

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  • Françoise Hyafil

Abstract

In this paper, the policy ineffectiveness proposition is empirically evaluated for France. The results of the tests presented here, have been obtained from quaterly data, with successively the inflation rate and the money growth as the aggregate demand policy variable and the GDP as real variable. It turns out that the rationality and the neutrality hypothesis are jointly rejected. The separate test for the neutrality hypothesis also leads to a rejection. The evidence for the rationality hypothesis is mixed; The hypothesis is rejected in the case of inflation, but it is accepted in the case of the money growth.

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  • Françoise Hyafil, 1990. "Rationalité des anticipations et modèle de taux naturel : quelques résultats économétriques concernant la France," Annals of Economics and Statistics, GENES, issue 19, pages 131-146.
    • Handle: RePEc:adr:anecst:y:1990:i:19:p:131-146
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