La politique monétaire en période d’incertitudes

John Hutchinson and Peter Praet

Revue d'économie financière, 2016, vol. n° 121, issue 1, 79-96

Abstract: In crisis times, the central bank is inevitably confronted with greater uncertainty and achieving its monetary policy objective becomes more complex. This paper posits that increased uncertainty should not prevent a central bank from taking informed decisions, but it does require a more cautious assessment and processing of information as well as adopting a broader view of the economy and a more preventive orientation towards emerging risks. Most importantly, it requires a central bank?s readiness to take informed decisions that correspond to its communicated reaction function and to thereby, act under uncertainty and deliver on its mandate. Classification JEL: E31, E32, E43, E58.

JEL-codes: E31 E32 E43 E58 (search for similar items in EconPapers)
Date: 2016
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