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Une stratégie européenne de policy-mix pour les années 2000

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  • Christian Saint-Etienne

Abstract

[fre] Le vieillissement de la population va dominer les questions d'équilibre des finances publiques dans les pays de la zone monétaire à Onze. Les engagements non financés sont de nature à déstabiliser les perspectives macro-économiques de la zone et à induire une politique monétaire restrictive pour contrebalancer les effets des déficits anticipés sur les marchés monétaires et financiers. Dans un contexte où la croissance de la zone va largement dépendre du dynamisme de la demande intérieure, il est essentiel d'arriver à mettre en place les conditions d'une coopération confiante entre la Banque centrale européenne et les gouvernements concernés. Plusieurs règles de coordination sont proposées à cet effet. [eng] A European policy mix strategy for the year 2000 and the coming decade. The ageing of the population will dominate the issues of public finance in the countries of the Eleven member Monetary Union. Unfunded liabilities could destabilise the Union's macroeconomic perspectives and lead to a restrictive monetary policy to counteract the impact of expected deficits on monetary and financial markets. Since economic growth in the Union should largely depend on domestic demand, it is crucial to reach an agreement for confident co-operation between the European central bank and the Governments of the Union. Several rules of co-ordination are put forward to this end.

Suggested Citation

  • Christian Saint-Etienne, 1999. "Une stratégie européenne de policy-mix pour les années 2000," Revue d'Économie Financière, Programme National Persée, vol. 55(5), pages 37-47.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_1999_num_55_5_4933
    DOI: 10.3406/ecofi.1999.4933
    Note: DOI:10.3406/ecofi.1999.4933
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