Search results for "monétaire"

Systèmes financiers et canaux de transmission de la politique monétaire

2010

This dissertation analyses the consequences of transformations in the financial sphere on the transmission channels of decisions in monetary policy in industrialized countries over the past several years. We observe that as a result of these transformations, banking institutions have evolved from an originate to hold model to an originate to distribute model. This has enabled banks to turn more toward derivative products and credit risk transfer instruments. We demonstrate that these techniques of active/passive management have completely revolutionized the theoretical foundations of traditional channels and in particular the credit channel. Our analysis of these landmark changes is organiz…

La ratification en trompe-l'il du TSCG en France

2013

International audience

From Land Reform to Hyperinflation: The Zimbabwean Experience of 1997-2008

2018

This article has for objective to contribute to the understanding of the Zimbabwean hyperinflation. The agrarian reform announced in November, 1997 is at the origin of this hyperinflation. This led to a massive outflow of capital and a disruption in the production that cause over several years the degradation of the foreign accounts, and a trend depreciation of the Zimbabwean dollar. The depreciation, via the increase of the costs in the import, cause the strong increase in prices. The long-lasting increase in prices have, subsequently, lead practice of price indexation on the foreign exchange rate. These phenomena of indexation not only fed the inflationary process, but also led to the col…

Monnaie, état et production : une lecture critique de l'approche néo-chartaliste.

2005

Dollarisation, EMU or the question of central banks' independence raise questions centeredon the privilege of minting money. In this perspective, it seems important to studyNeochartalism, in so far as it extends the analysis initiated by Knapp, and investigatesspecifically the links between money and the State. This text is a critical analysis, based onboth historical and theoretical arguments. Neochartalism first assumes that there is a linkbetween fiscal policy and the collective acceptability of money. However, as argued byAglietta and Orlean, focusing exclusively on the power of the State to impose taxes does notseems sufficient to appraise all of this phenomenon's characteristics. When…

Les analyses monétaires pré-classiques au sein de l’Empire britannique

2012

International audience; Desmedt L., 2012, Les analyses monétaires pré-classiques au sein de l’Empire britannique, Economies et Sociétés, série Histoire de la pensée économique, 47, décembre 2012, 2219-2243.

Circuit et circulation, une fausse analogie

1985

International audience

L'euro à la lumière des théories monétaires holistes contemporaines

2008

The thesis begins by explaining, in a first part, the genealogy of a heterodox tradition called “holist monetary approach”, which refuses dichotomic theories and the classical conception of the veil of money. It shows the proximities of these positions with a tradition consisting in thinking money as a “total social fact” involving far more than the three usual economic functions attributed to money. Recent research works conducted in France around Aglietta and Orléan fit in with this tradition. The thesis also leans on theories developed in Keynes' wake, sharing with the “social fact” approaches a holist methodology. The latter involves a main focus on macroeconomic analysis, which is, in …

L'économie d'échange, une fable? La contribution de James Steuart à la théorie de l'économie monétaire de production.

2005

Le marché du travail à la lumière de la macroéconomie monétaire.

2007

Regional currencies and regional monetary zones in Latin America : what prospects ?

2009

9 p.; This paper aims at drawing lessons from Keynes's plan presented at the Bretton Woods conference, in order to help improving current regional monetary agreements in Latin America. Some promoters of the Bank of the South and the New Financial Architecture in Latin America are proposing to implement a regional clearing system designed to allow a multilateral offsetting of the liabilities and assets generated in the reciprocal transactions of member countries in words that the British economist certainly would not have denied. This system would be very different from current regional payments aggreements that maintain an implicit reference to the US dollar as reserve or payment currency.