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Conduite et efficacité de la politique économique : les leçons de la crise

Landais, Bernard (2011): Conduite et efficacité de la politique économique : les leçons de la crise.

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Abstract

This paper intend to keep some lessons from the recent crisis for the monetary and fiscal stabilization policies. We develop six propositions about these policies : The monetary policy may be wrongly orientated before a crisis ; The non-orthodox monetary actions are effective but dangerous; The Central Bank must adopt an enlarged framework for her strategy ; Fiscal Policy has not been completely rehabilited by crisis events and its efficiency is dubious ; In Euro Zone, monetary policy has been a problem that fiscal policies are not able to solve ; In Euro Zone, public debts are a big problem that monetary molicy can solve.

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