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« Nouvelle économie » et politique monétaire


  • 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

Suggested Citation

  • Gilbert Cette & Christian Pfister, 2002. "« Nouvelle économie » et politique monétaire," Revue économique, Presses de Sciences-Po, vol. 53(3), pages 669-677.
  • Handle: RePEc:cai:recosp:reco_533_0669

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    Cited by:

    1. Gilbert Cette & Christian Pfister, 2004. "Challenges of the “New Economy” for Monetary Policy," International Productivity Monitor, Centre for the Study of Living Standards, vol. 8, pages 27-36, Spring.

    More about this item

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit


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