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Le contenu en information des agrégats monétaires français

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Listed:
  • Christian Bordes
  • Michael Driscoll
  • Garry Mac Donald

Abstract

[fre] Le principal objectif de cet article est l'examen du contenu en information des valeurs présentes et passées de différents agrégats monétaires, informations relatives au revenu et aux prix dans le cas français sur la période 1970-1982. Parmi les agrégats faisant l'objet de l'évaluation figurent l'agrégat monétaire officiel M 2 R ainsi que la base monétaire et des mesures élargies du crédit et de la monnaie. Les billets et monnaies divisionnaires, principale composante de la base monétaire, ont le contenu en information le plus élevé. M 2 R ne fournit aucune information supplémentaire sur le revenu et les prix, pas plus que les agrégats de crédit. Dans cet article sont aussi passés en revue les critères utilisés pour effectuer une sélection entre les différents agrégats monétaires et de crédit. [eng] The information content of french monetary aggregates. Christian Bordes, Michael Driscoll, Garby Mac Donald. The main purpose of this paper is to examine the information that current and pafit values of alternative monetary aggregates contain regarding nominal incarne and prices in France over the period 1970-1982. The information content of the current targeted monetary aggregate, M 2 R, is evaluated alsongside a number of alternative aggregates including currency in circulation, the monetary base, some wide measure of money and credit aggregates. Currency in circulation, the main component of the monetary base, has the highest information content. M 2 R provides no additional information to that contained in the past values of income and prices, which is a feature of credit aggregates also. The paper also contains a review of the criteria used to choose between alternative measures of money and credit.

Suggested Citation

  • Christian Bordes & Michael Driscoll & Garry Mac Donald, 1985. "Le contenu en information des agrégats monétaires français," Revue Économique, Programme National Persée, vol. 36(6), pages 1169-1206.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1985_num_36_6_408888
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    References listed on IDEAS

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    5. Summer, M. T., 1980. "The operation of monetary targets," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 13(1), pages 91-130, January.
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