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Analyse dynamique de la convergence des comportements de demande de monnaie en Europe

Author

Listed:
  • Sylvie Lecarpentier-Moyal

    (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

  • Patricia Renou-Maissant

    (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

Abstract

L'objet de cet article est l'étude de la convergence structurelle des comportements de demande de monnaie dans six pays européens (Allemagne réunifiée, Espagne, France, Italie, Pays-Bas, Royaume-Uni) avant la mise en place de l'euro en 1999. Nous effectuons une analyse dynamique des changements structurels qui affectent les coefficients (élasticités ou semi-élasticités) des fonctions de demandes de monnaie nationales sur la période 1982-1997.Si des comportements hétérogènes sont observés, il peut en résulter une hausse de la dispersion des taux d'inflation des futurs pays participants, ce qui peut poser des problèmes en termes de choix de stratégie monétaire par la BCE. D'une manière générale, un processus de convergence semble à l'œuvre mais il n'est pas achevé, l'homogénéité ayant été observée dans un seul cas (pour M2 aux Pays-Bas).

Suggested Citation

  • Sylvie Lecarpentier-Moyal & Patricia Renou-Maissant, 2007. "Analyse dynamique de la convergence des comportements de demande de monnaie en Europe," Post-Print halshs-00256488, HAL.
    • Handle: RePEc:hal:journl:halshs-00256488
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    References listed on IDEAS

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