This paper reports the results of a survey conducted by the Banque de France during winter 2003-2004 to investigate the price-setting behavior of French manufacturing companies. Prices are found to adjust infrequently; the median firm modifies its price only once a year. Price reviews are more...

The recent rise of excess liquidity in the United States and in the euro zone did not result in a resurgence of inflation. Excess liquidity, rather than heading towards the market of consumer goods, could have moved towards the asset markets. In the data covering the period going from 1980 to...

According to the quantitative theory of money, an expansion of the money supply leads both to a decrease of interest rates and an increase of the general level of good prices. This negative correlation expected between these two variables being contradicted by the positive correlation observed...

In this paper, we propose a simple econometric framework to disentangle the respective roles of monetary policy inertia and persistent shocks in interest rate rules. The procedure exploits the cross-equation restrictions provided by a DSGE model which is confronted to a monetary SVAR. We show...

Brief introduction to the symposium highlighting the importance of price measurement for reliable productivity estimates. Accurate price indexes are essential for reliable productivity measurement. the author points out that a one percentage point upward bias in price changes results in a one...

The 1994 dévaluation of the CFA-franc seems to be the main event of the decade in French-speaking Africa.For the main actors, Africans or foreigners, the achievements are in accordance with their expectations.In others words, it was believed that the dévaluation would be successful and, in the...

Alors que des études antérieures ont exploré la relation entre l'inflation et la croissance économique, la littérature existante sur l'effet de seuil de l'inflation sur la croissance économique dans la Zone Monétaire de l'Afrique de l'Ouest (ZMAO) suppose principalement une association...

French Abstract: Ce papier revient sur la non-linéarité de la relation inflation –croissance. Il évalue le rôle de la qualité institutionnelle sur la non-linéarité de la relation inflation-croissance et la détermination du taux d'inflation optimal dans les pays africains. A cet égard,...

French Abstract:Plusieurs matières premières « critiques » jouent un rôle central dans le déploiement detechnologies essentielles à la transition vers une économie bas-carbone. L'approvisionnementfiable et abordable de ces ressources est soumis à des risques du côté de l'offre, face...

German Abstract: Hungersnöte sind fast immer menschengemacht, oft werden sie zur Abschreckung eingesetzt. Seit der Antike sind Nahrung und Hunger eine Waffe des Krieges. Zu den berüchtigtsten Beispielen in Afrika gehört der Völkermord an den Herero und Namaqua in Deutsch-Südwestafrika...