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Comment formuler la politique monétaire? Les enseignements de l'expérience récente

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  • Jean-Claude Chouraqui
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    [fre] Partant de l'expérience des grands pays de l'O.C.D.E. depuis le début des années quatre-vingt, cet article aborde trois séries de questions : les banques centrales doivent-elles continuer d'annoncer des objectifs de croissance monétaire ? Quelles autres variables peuvent-elles choisir pour formuler leur politique monétaire? En l'absence d'un objectif explicite quelconque, de quelle manière peuvent-elles influer sur les anticipations inflationnistes et, plus généralement, sur le comportement du secteur privé ? [eng] On the basis of the experience of major O.E.C.D. countries since the early 1980's, this article adresses three sets of issues: Should central banks continueto announce targets for money growth? Which variales can they choose to formulate their monetary policy? In the absence of any explicit objective, how can they influence inflation expectations and, more generally, the behaviour of the private sector?

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    Article provided by Programme National Persée in its journal Revue française d'économie.

    Volume (Year): 5 (1990)
    Issue (Month): 4 ()
    Pages: 5-28

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    Handle: RePEc:prs:rfreco:rfeco_0769-0479_1990_num_5_4_1263
    Note: DOI:10.3406/rfeco.1990.1263
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