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2012

Persistent link: https://www.econbiz.de/10009559850

Colloque d'Information sur les Problèmes de Balance des Paiements (emplois des excédents ou financement des déficits), 19.-21.5.1969

1976

Persistent link: https://www.econbiz.de/10003289963

Insulation impossible: monetary policy and regional fiscal spillovers in a federation

Cooper, R.; Kempf, H.; Peled, D. - Banque de France - 2010

This paper studies the effects of monetary policy rules in a fiscal federation, such as the European Union. The focus of the analysis is the interaction between the fiscal policy of member countries (regions) and the monetary authority. Each of the countries structures its fiscal policy...

Persistent link: https://www.econbiz.de/10008677945

Fiscal Policy in a Tractable Liquidity-Constrained Economy

Challe, E.; Ragot, X. - Banque de France - 2010

In this paper, we analyse the effects of transitory fiscal expansions when public debt is used as liquidity by the private sector. Aggregate shocks are introduced into a tractable flexible-price, incomplete-market economy where heterogenous, infinitely-lived agents face occasionally binding...

Persistent link: https://www.econbiz.de/10008682875

Determinants of OECD countries’ sovereign yields: safe havens, purgatory, and the damned.

Bortoli, C.; Harreau, L.; Pouvelle, C. - Banque de France - 2014

In this paper, we estimate the determinants of the spreads between the 10-year sovereign bond yields and the (interest rate) swap rate for a sample of 22 OECD countries over the January 1999-December 2013 period, using various models. Our main, fixed-effect, model highlights the crucial role of...

Persistent link: https://www.econbiz.de/10010815955

Public debt ratio and its determinants in France since 1890 Does econometrics support the historical evidence?

Dufrénot, G.; Triki, K. - Banque de France - 2012

from the end of the 19th century to the beginning of the 1950s, growth, inflation and primary balances were factors capable … post-war boom, very high inflation and economic growth masked nascent budgetary imbalances while the so-called “stop and go …

Persistent link: https://www.econbiz.de/10010815958

The Laffer Curve in an Incomplete-Market Economy.

Fève, P.; Matheron, J.; Sahuc, J-G. - Banque de France - 2013

This paper investigates the characteristics of the Laffer curve in a neoclassical growth model of the US economy with incomplete markets and heterogeneous agents. The shape of the Laffer curve changes depending on which of transfers or government debt are varied to balance the government budget...

Persistent link: https://www.econbiz.de/10010816010

Regional Debt in Monetary Unions: Is it Inflationary?

Cooper, R.; Kempf, H.; Peled, D. - Banque de France - 2007

This paper studies the inflationary implications of interest bearing regional debt in a monetary union. Is this debt simply backed by future taxation with no inflationary consequences? Or will the circulation of region debt induce monetization by a central bank? We argue here that both outcomes...

Persistent link: https://www.econbiz.de/10004998812

Monetary rules and the spillover of regional fiscal policies in a federation.

Cooper, R.; Kempf, H.; Peled, D. - Banque de France - 2009

Persistent link: https://www.econbiz.de/10005034724

Globalization, Market Structure and the Flattening of the Phillips Curve.

Guilloux-Nefussi, S. - Banque de France - 2015

The decline in the sensitivity of inflation to domestic slack observed in developed countries over the last 25 years … also the bigger ones) enter the export market. They tend to transmit less marginal cost fluctuations into inflation because … the proportion of large firms reduces the pass-through of marginal cost into inflation. …

Persistent link: https://www.econbiz.de/10011196011