Reformulation du modèle macroéconomique de la nouvelle synthèse : crédits, politique monétaire et écarts de taux
[A reformulation of the new synthesis macroeconomic model : credits, monetary policy and interest rates gaps]
This paper intends to watch and teach the macroeconomic processes with a joint view on monetary policy. It endorses the main ideas expressed by the three equations model of the New Neo-Keynesian Synthesis and to which it adds one loanable funds equation.This widening to credit questions has concrete implications for the role played by the interest gap value and yields curve as a special indicator for effective monetary policy implementation.Besides we emphasize also the non orthodox forms of the central banks' policy. This new four equations model is convenient to make clear the macroeconomic relations for the short run and "normal" periods .It also be a good starting point for studying economic and financial crisis.
|Date of creation:||Feb 2012|
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- Peersman, Gert, 2011.
"Macroeconomic effects of unconventional monetary policy in the euro area,"
Working Paper Series
1397, European Central Bank.
- Gert Peersman, 2011. "Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area," CESifo Working Paper Series 3589, CESifo Group Munich.
- G. Peersman, 2011. "Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/734, Ghent University, Faculty of Economics and Business Administration.
- Peersman, Gert, 2011. "Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area," CEPR Discussion Papers 8348, C.E.P.R. Discussion Papers.
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- Laurence H. Meyer, 2001. "Does money matter?," Review, Federal Reserve Bank of St. Louis, issue May, pages 1-16.
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- Hyman P. Minsky, 1992. "The Financial Instability Hypothesis," Economics Working Paper Archive wp_74, Levy Economics Institute. Full references (including those not matched with items on IDEAS)
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