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


  • Jean-Claude Chouraqui


[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?

Suggested Citation

  • Jean-Claude Chouraqui, 1990. "Comment formuler la politique monétaire? Les enseignements de l'expérience récente," Revue Française d'Économie, Programme National Persée, vol. 5(4), pages 5-28.
  • Handle: RePEc:prs:rfreco:rfeco_0769-0479_1990_num_5_4_1263
    Note: DOI:10.3406/rfeco.1990.1263

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    References listed on IDEAS

    1. Arrondel, Luc & Laferrere, Anne, 2001. "Taxation and wealth transmission in France," Journal of Public Economics, Elsevier, vol. 79(1), pages 3-33, January.
    2. Becker, Gary S & Murphy, Kevin M, 1988. "The Family and the State," Journal of Law and Economics, University of Chicago Press, vol. 31(1), pages 1-18, April.
    3. Gordon, Roger H. & Varian, Hal R., 1988. "Intergenerational risk sharing," Journal of Public Economics, Elsevier, vol. 37(2), pages 185-202, November.
    4. Didier Blanchet & Bertrand Villeneuve, 1997. "Que reste-t-il du débat répartition-capitalisation ?," Revue d'Économie Financière, Programme National Persée, vol. 40(2), pages 157-174.
    5. Lindbeck, A., 1994. "Uncertainty under the Welfare State - Policy Induced Risk -," Papers 576, Stockholm - International Economic Studies.
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