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Évaluation de la politique monétaire dans un modèle DSGE pour la zone euro

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  • Adjemian, Stéphane
  • Devulder, Antoine

Abstract

Dans cet article nous présentons de façon détaillée un modèle DSGE canonique et montrons comment celui-ci peut être simulé puis estimé. Nous proposons deux applications sur la base du modèle estimé. Dans la première nous évaluons les conséquences sur le bien être social de la forme de la politique monétaire. On montre que le bien être social est significativement dégradé si la Banque Centrale ne prend pas en compte l’écart de production. Dans la seconde, nous interrogeons le modèle sur la publicité que la Banque Centrale doit faire autour de sa politique. Nous montrons que face à un choc de productivité négatif il est préférable de ne pas annoncer une politique monétaire accommodante, afin de limiter l’ampleur des tensions inflationnistes.

Suggested Citation

  • Adjemian, Stéphane & Devulder, Antoine, 2011. "Évaluation de la politique monétaire dans un modèle DSGE pour la zone euro," Dynare Working Papers 7, CEPREMAP, revised Jul 2011.
    • Handle: RePEc:cpm:dynare:007
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    Cited by:

    1. Jean-Bernard Chatelain & Kirsten Ralf, 2017. "Can We Identify the Fed's Preferences?," Working Papers halshs-01549908, HAL.
    2. Kawther Alimi & Mohamed Chakroun & Grégory Levieuge, 2019. "Diagnosis of Monetary Policy in Tunisia During the Last Decade: a DSGE Model Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(1), pages 348-364, March.
    3. Tsasa Vangu, Jean-Paul Kimbambu, 2014. "Diagnostic de la politique monétaire en Rép. Dém. Congo – Approche par l’Equilibre Général Dynamique Stochastique," Dynare Working Papers 38, CEPREMAP.

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