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Deformation des prix relatifs, fragilite financiere et politique monetaire

Author

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  • Artus, P.

Abstract

Les pays de l'OCDE vont connaitre une baisse durable du prix relatif des produits industriels, apres la crise asiatique. Cette evolution des prix fragilise les entreprises des secteurs manufacturiers, donc les intermediaires financiers qui leur ont prete. Si les Banques Centrales ont comme objectif non seulement une faible inflation mais aussi la stabilite du secteur financier, il est possible qu'elles doivent alors mener une politique monetaire plus expansionniste que cell qui resulterait de l'observation de la situation agregee de l'economie, sans differentiation sectorielle; mais il peut aussi apparaitre un conflit entre les deux objectifs de la politique monetaire.

Suggested Citation

  • Artus, P., 1999. "Deformation des prix relatifs, fragilite financiere et politique monetaire," Papers 1999-04/eb, Caisse des Depots et Consignations - Cahiers de recherche.
  • Handle: RePEc:fth:cadeco:1999-04/eb
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    More about this item

    Keywords

    POLITIQUE MONETAIRE ; BANQUES CENTRALES ; PRIX;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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