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Les effets stabilisants de la zone-cible du taux d’inflation
[The stabilising effects of inflation-targeting zone]

Listed author(s):
  • Dai, Meixing

Résumé: Une zone-cible du taux d’inflation comporte une borne supérieure et une borne inférieure clairement annoncées par les autorités monétaires. Ces dernières assurent la crédibilité de cette zone par des interventions ponctuelles sur les marchés financiers lorsque le taux d’inflation anticipé atteint la borne supérieure ou inférieure. Nous proposons dans ce papier un cadre théorique qui permet de démontrer que la zone-cible du taux d’inflation a des vertus stabilisantes : en stabilisant le taux d’inflation anticipé, elle stabilise le taux d’inflation réalisé et les autres variables macro-économiques.

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File URL: https://mpra.ub.uni-muenchen.de/13856/1/MPRA_paper_13856.pdf
File Function: original version
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13856.

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Date of creation: Dec 1998
Date of revision: Nov 2001
Handle: RePEc:pra:mprapa:13856
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  24. Daniel Laskar, 1997. ""Incohérence temporelle" de la politique monétaire optimale. Un argument en faveur des zones cibles," Revue Économique, Programme National Persée, vol. 48(1), pages 5-22.
  25. Rangvid, Jesper & Sorensen, Carsten, 2001. "Determinants of the implied shadow exchange rates from a target zone," European Economic Review, Elsevier, vol. 45(9), pages 1665-1696, October.
  26. Sumner, Scott, 1995. "The Impact of Futures Price Targeting on the Precision and Credibility of Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(1), pages 89-106, February.
  27. Ben S. Bernanke & Frederic S. Mishkin, 1997. "Inflation Targeting: A New Framework for Monetary Policy?," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 97-116, Spring.
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