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« Nouvelle économie » et politique monétaire

Listed author(s):
  • Gilbert Cette
  • Christian Pfister

The emergence and diffusion of information and communication technologies ( ICT ) raise potential growth along uncertain proportions and for an indeterminate period. This speeding up of growth and the partly transitory slowdown of inflation that comes with it are featured here as the “New Economy” ( NE ). Monetary policy can take advantage of the NE to lower its inflation objective, if price expectations are enough forward-looking for possible nominal rigidities to be negligible. Furthermore, the Central Bank should be cautious in diagnosing a change in potential growth. Classification JEL : D8, E3, E4, E5

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Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 53 (2002)
Issue (Month): 3 ()
Pages: 669-677

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Handle: RePEc:cai:recosp:reco_533_0669
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