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The Dynamic Effects of Disinflation Policies in the U. S

Author

Listed:
  • Fabrice Collard
  • Patrick Fève
  • Julien Matheron

Abstract

Cet article étudie les effets des politiques de désin?ation sur la dynamique macroéconomique américaine. Les politiques de désin?ation sont identifiées à l?aide d?une technique d?épisode comme des chocs réduisant de façon permanente le niveau d?in?ation de long terme. Nous montrons que ces épidodes sont suivis d?une période de récession persistente. L?in?ation augmente à court terme au dessus de son niveau de long terme et présente une dynamique en cloche. Cette dynamique se retrouve sur l?évolution du taux d?intérêt. Ces résultats sont robustes à des changements dans l?ensemble d?information utilisé, ainsi qu?à des changements de spécification du modèle.

Suggested Citation

  • Fabrice Collard & Patrick Fève & Julien Matheron, 2012. "The Dynamic Effects of Disinflation Policies in the U. S," Revue d'économie politique, Dalloz, vol. 122(6), pages 867-885.
    • Handle: RePEc:cai:repdal:redp_226_0867
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