While much attention has focused on the factors that brought about the so-called new economy, much less attention has been paid to optimal policy responses following the establishment of the new economy. In the third article, Gilbert Cette and Christian Pfister from the Bank of France provide...

This paper is dedicated at reconsidering objectives and instruments of monetary policy and also at redefining a policy mix in an economy which is systematically confronted to imbalances due to changes in technology, in the composition of demand or in the distribution of income, It is motivated...

Depuis 2003, la Turquie a entrepris de restaurer ses fondamentaux macro-économique en mettant en place, sous la houlette du FMI, un programme de lutte contre l’inflation, tendon d’Achille traditionnel du pays et une politique budgétaire d’austérité, caractérisée par le dégagement de...

Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries that have adopted it have successfully improved their monetary policy regime. The objective of this paper is to assess WAMZ member countries' readiness to adopt inflation...

Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries that have adopted it have successfully improved their monetary policy regime. The objective of this paper is to assess WAMZ member countries' readiness to adopt inflation...

In this article, we use recently developed panel causality and cointegration techniques to examine the long-run relationship between inflation and economic growth of the 8 WAEMU countries. A panel of 256 observations was therefore constituted from the IMF (WDI) and BCEAO database. Our results...

We build a model with frictional unemployment and staggered wage bargaining and we assume that hours worked are negotiated every period. We analyze the role of workers? bargaining power in the hours negotiation on unemployment volatility and inflation persistence. The closer to zero is this...

Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This |"divorce'' of...