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"Nouvelle économie" et politique monétaire

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  • Christian Pfister
  • Gilbert Cette

Abstract

[fre] "New economy" and monetary policy. . 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 cornes with it are featured here as the "New Economy" (NE). Monetary policy can take advantage of the ne to lowerits inflation objective, ifprice 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. [eng] "New economy" and monetary policy. . 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 cornes with it are featured here as the "New Economy" (NE). Monetary policy can take advantage of the ne to lowerits inflation objective, ifprice 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.

Suggested Citation

  • Christian Pfister & Gilbert Cette, 2002. ""Nouvelle économie" et politique monétaire," Revue Économique, Programme National Persée, vol. 53(3), pages 669-677.
    • Handle: RePEc:prs:reveco:reco_0035-2764_2002_num_53_3_410436
    DOI: 10.3406/reco.2002.410436
    Note: DOI:10.3406/reco.2002.410436
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    Cited by:

    1. Cette, Gilbert & Mairesse, Jacques & Kocoglu, Yusuf, 2005. "Effets de la diffusion des technologies de l’information sur la croissance potentielle et observée," L'Actualité Economique, Société Canadienne de Science Economique, vol. 81(1), pages 203-230, Mars-Juin.
    2. Cette, Gilbert & Mairesse, Jacques & Kocoglu, Yusuf, 2005. "ICT diffusion and potential output growth," Economics Letters, Elsevier, vol. 87(2), pages 231-234, May.
    3. 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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