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Analyse multivariee des ratios de sacrifice europeens


  • Alexis Garatti


Cet article fait le point sur la theorie des ratios de sacrifice. Il souligne les limites de l’approche traditionnelle (facteurs multiples agissant sur l’inflation) et etudie plus specifiquement le role des chocs monetaires. Ceci permet de reexaminer les ratios de sacrifice europeens et leur correlation avec l’independance des banques centrales. L’approche multivariee de l’etude aboutit a une nouvelle definition de ces derniers en termes de diminution ou d’augmentation de la volatilite de l’activite.

Suggested Citation

  • Alexis Garatti, 2005. "Analyse multivariee des ratios de sacrifice europeens," Economie Internationale, CEPII research center, issue 103, pages 25-43.
  • Handle: RePEc:cii:cepiei:2005-3tb

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    More about this item


    Inflation; ratios de sacrifice; VAR structurels;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy


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