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Le ciblage de l'inflation en univers incertain

Author

Listed:
  • Pierre Jaillet
  • Jean-Paul Pollin

Abstract

The recent price shock has sparked a debate on the inflation target, which has been the main pillar of central bank strategies since the 1990s. This article looks first at the theoretical question of the inflation rate before discussing the conditions that justify the choice of a 2% target. It then examines the arguments for and against changing this benchmark, before considering some alternative policy options. The conclusion is that, in all cases, central banks will have to justify the relevance of their policy goals on economic grounds better than they do today. JEL classification: E31, E52, E58.

Suggested Citation

  • Pierre Jaillet & Jean-Paul Pollin, 2024. "Le ciblage de l'inflation en univers incertain," Revue d'économie financière, Association d'économie financière, vol. 0(1), pages 233-247.
    • Handle: RePEc:cai:refaef:ecofi_153_0233
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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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