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Comportement du Banquier Central en Environnement Incertain

Author

Listed:
  • Sanvi Avouyi-Dovi
  • Jean-Guillaume Sahuc

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

Plusieurs travaux récents sont consacrés à l’examen du comportement du banquier central face à l’incertitude affectant notamment son environnement économique. Ce papier propose, du point de vue du banquier central, une synthèse des principales sources d’incertitude ainsi qu’une illustration de leurs effets dans un cadre analytique. Il montre en particulier que selon l’hypothèse d’incertitude et le choix de la fonction de perte retenus, les recommandations de politique monétaire peuvent être sensiblement différentes. Retenir par exemple une fonction de perte ad hoc (choix discrétionnaire) à la place d’une fonction endogène (choix cohérent avec les paramètres structurels) peut entraîner de considérables pertes en bien être.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Sanvi Avouyi-Dovi & Jean-Guillaume Sahuc, 2009. "Comportement du Banquier Central en Environnement Incertain," Post-Print hal-01612721, HAL.
    • Handle: RePEc:hal:journl:hal-01612721
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    Cited by:

    1. Patrick Fève & Julien Matheron & Jean‐Guillaume Sahuc, 2009. "Minimum Distance Estimation and Testing of DSGE Models from Structural VARs," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 71(6), pages 883-894, December.
    2. Alain Monfort, 2008. "Optimal portfolio allocation under asset and surplus VaR constraints," Journal of Asset Management, Palgrave Macmillan, vol. 9(3), pages 178-192, September.

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    More about this item

    Keywords

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    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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