Le taux de croissance de l’offre de monnaie et arbitrage entre le taux d’inflation et le taux de chômage au Canada-Reference-Cited by-同舟云学术

Le taux de croissance de l’offre de monnaie et arbitrage entre le taux d’inflation et le taux de chômage au Canada

Published:2009-06-22 Issue:3 Volume:55 Page:397-410
ISSN:1710-3991
Container-title:Articles
language:
Short-container-title:ae

Author:

Marchon Maurice N.¹

Affiliation:

1. École des Hautes Études commerciales (Montréal)

Abstract

This paper presents simulations results using a "Modified St. Louis Model" for Canada. These simulations identify opportunities of trade-off between inflation and unemployment rate. They reveal very slim opportunities of trade-off and demonstrate that any short-term gain in real output caused by monetary stimulus will have to be paid in term of compensating slower output growth to reduce inflationary expectations. This situation of no real trade-off shows up even if the model does not fully endogenize the exchange rate and international trade feedback of changes in money supply growth rate.

Publisher

Consortium Erudit

Subject

General Medicine

Reference7 articles.

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3. [3] DEWALD, WILLIAM G. et MARCHON, MAURICE N., "Monetary Growth, Inflation, and Unemployment : Projections Through 1983", Economic Review Federal Reserve of the Kansas City, novembre 1978 et reproduit dans HEC, rapport de recherche n° 79-01, janvier 1979.

4. [4] DEWALD, WILLIAM G. et MARCHON, MAURICE N., "A Common Specification of Price, Output, and Unemployment Rate Responses to Demand Pressure and Import Prices in Six Industrial Countries", Weltwirtschaftliches Archiv, Review of World Economics, Band 115, Haft 1, 1979, pp. 1-19.

5. [5] DUFOUR, JEAN-MARIE, "La demande de monnaie durant l'hyperinflation allemande (1921-23) : une analyse de stabilité récursive", communication présentée au 47e Congrès de l'ACFAS, mai 1978.