Austerity is not enough
By André Grjebine and Francesco Saraceno It is certainly possible to question whether the role acquired by the rating agencies in the international economy is […]
Monetary policy
The economic crisis is a crisis of economic policy
By Jean-Luc Gaffard The simultaneous increase of inflation and unemployment in the 1970s indicated that Keynesian theory and policy had run into a wall. No […]
Monetary policy: Open-Market Operations or Open-Mouth Operations?
By Paul Hubert Can the communications of a central banker influence agents’ expectations in the same way as they change interest rates? To believe Ben […]
Regaining confidence in the euro: Three pressing issues
By Jérôme Creel In a communication on European economic governance before the European Parliament’s ECON Committee on Monday, 17 October 2011, three pressing issues were […]
From Trichet to Draghi: Results and prospects
By Christophe Blot and Eric Heyer During eight years as head of the ECB, we have seen two Jean-Claude Trichets (JCT): one dogmatic, the other […]
The G20 Summit in Cannes: Chronicle of a Disappointment Foretold?
By Jérôme Creel and Francesco Saraceno Too long and too technical, the final declaration of collective action of the G20 Summit in Cannes shows that […]
Can the central banks influence the expectations of private agents?
By Paul Hubert Can the forecasts of a central bank influence the expectations of private agents, and if so what are the reasons for this? […]
Why the developed countries should renounce their AAA rating
By Catherine Mathieu and Henri Sterdyniak By their very nature, states with monetary sovereignty should renounce their AAA rating: indeed, what is the logic behind […]
The dual mandate, the Fed and the ECB
By Jérôme Creel and Francesco Saraceno Since 21 September 2011, the US Federal Reserve has launched Operation Twist to reallocate its balance sheet to reduce […]