Monetary policy under a quasi-fixed exchange rate regime. The case of France between 1987 and 1996
Benoit Mojon
Banca Nazionale del Lavoro Quarterly Review, 1999, vol. 52, issue 211, 401-430
Abstract:
In this paper, I describe the implementation of monetary policy by the Banque de France between 1987 and 1996. This period was characterised by a quasi-fixed exchange rate for France, as the franc was never realigned within the European Monetary System (EMS). I build indicators of the stance of French monetary policy. These show the influence of the EMS constraint on French monetary policy. In particular, since 1987, the shocks of purely domestic French monetary policy (i.e. the variations of the interest rate around the rule of ERM peg target), have only had very little impact on the French economy.
Keywords: France; French monetary policy; EMS; interest rate (search for similar items in EconPapers)
JEL-codes: E50 F31 (search for similar items in EconPapers)
Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10547/10432 (application/pdf)
Related works:
Journal Article: Monetary policy under a quasi-fixed exchange rate regime. The case of France between 1987 and 1996 (1999) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:psl:bnlqrr:1999:43
Ordering information: This journal article can be ordered from
http://www.economiacivile.it
Access Statistics for this article
Banca Nazionale del Lavoro Quarterly Review is currently edited by Alessandro Roncaglia
More articles in Banca Nazionale del Lavoro Quarterly Review from Banca Nazionale del Lavoro
Bibliographic data for series maintained by Carlo D'Ippoliti ().