Inflation: retour d'une crainte ou crainte d'un retour ?

Xavier Timbeau, Christophe Blot (), Frédéric Reynés () and Marion Cochard ()
Additional contact information
Christophe Blot: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

Post-Print from HAL

Abstract: Industrialize countries and most of the developing ones managed to impose a low inflation in a context of floating exchange rates. This study wonders if this phenomenon is everlasting. First, we carry out a retrospective analysis on the evolution of inflation. It is argued that following adverse supply shocks in the 1970's, the rise in inflation was favored by the collapse of Bretton-Woods that imposed a nominal anchoring for exchange rates and thus for inflation. Then, we expose the three main factors which allowed the reduction of inflation from the very beginning of the 1980's in industrialized countries: changes in monetary policy strategy, implementation of structural reforms on goods and labor markets and globalization. Lastly, the risks of a possible come-back of inflation are evaluated in a prospective section.

Keywords: Inflation; Système monétaire international; Politique monétaire (search for similar items in EconPapers)
Date: 2006-10
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03459232
References: Add references at CitEc
Citations:

Published in Revue de l'OFCE, 2006, 99, pp.157 - 177. ⟨10.3917/reof.099.0157⟩

Downloads: (external link)
https://sciencespo.hal.science/hal-03459232/document (application/pdf)

Related works:
Working Paper: Inflation: retour d'une crainte ou crainte d'un retour ? (2006)
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:hal:journl:hal-03459232

DOI: 10.3917/reof.099.0157

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().