Objectifs politiques et contraintes institutionnelles dans les décisions de politique monétaire : analyse économétrique du cas français (1973.03-1993.12) .
Fiche du document
1995
Copyright PERSEE 2003-2023. Works reproduced on the PERSEE website are protected by the general rules of the Code of Intellectual Property. For strictly private, scientific or teaching purposes excluding all commercial use, reproduction and communication to the public of this document is permitted on condition that its origin and copyright are clearly mentionned.
Sujets proches
Monetary management Frenchmen (French people) Methods of analysis Analysis and chemistry Analytical methods Chemical analysis Analysis methods Analysis and examination Enseñanza--Fines y objetivos Fines educativos Objetivos educativos Maniement Manutention (animaux) Buts et fins Objectifs Analyse chimique Dosage Flottement des monnaies Lien (anatomie) français langue d'oïlCiter ce document
Christian Aubin et al., « Objectifs politiques et contraintes institutionnelles dans les décisions de politique monétaire : analyse économétrique du cas français (1973.03-1993.12) . », Revue économique, ID : 10.3406/reco.1995.409700
Métriques
Partage / Export
Résumé
Political goals and institutional constraints in monetary policy making : an empirical application to the french case (1973.03 - 1993.12) This paper tries to evaluate the weight of political influences in French monetary policy choices for the period preceding the implementation of the independence law for the Central Bank (January 1994). The analysis is based on a positive politico-economic model describing the bargaining process between the government and the Central Bank. Empirical estimates show that, at least for the interest rate instrument, political considerations have significantly influenced monetary policy choices for the period preceding the adhesion to the European Monetary System. Afterwards, institutional constraints have strongly reduced the possibilities for political manipulation.