Les stabilisations des années vingt. Réflexions sur la notion de crédibilité

Mathilde Maurel

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Abstract: The twenties are akin to laboratory experiments which are useful for the ana­lysis of monetary events. Sargent (1982) highlights the role of credibility in the suc­cess of economic policy and the examplarity of the twenties for understanding contemporaneous stakes. Our model is based on the monetary financing of the deficit ; hence it suggests that any generalization is cautious. Two empirical illus­trations are proposed : the German and Hungarian hyperinflation and stabilization processes.

Keywords: financement monétaire du déficit; politique économique (search for similar items in EconPapers)
Date: 1997
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Published in Revue Economique, 1997, 48 (3), pp.539-548. ⟨10.2307/3502840⟩

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Related works:
Journal Article: Les stabilisations des années vingt. Réflexions sur la notion de crédibilité (1997)
Working Paper: Les stabilisations des années vingt: réflexions sur la notion de crédibilité (1997)
Working Paper: Les stabilisations des années vingt: réflexions sur la notion de crédibilité (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00468767

DOI: 10.2307/3502840

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