Banques centrales. L’impuissance de leur puissance ? (notice n° 1593115)
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| fixed length control field | 03372cam a2200313 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20251228070535.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Flouzat, Denise |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Banques centrales. L’impuissance de leur puissance ? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2016.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 44 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Le modèle contemporain des banques centrales, se caractérise par leur statut d’indépendance et l’objectif de leur politique : la stabilité monétaire. Sont analysées les politiques suivies de 1980 à 2007, qualifiées de « grande modération » en raison d’un taux d’inflation ramené autour de 2%. Cette situation a connu une rupture en 2007 avec la crise américaine des subprimes. Pour y faire face, les banques ont abaissé leurs taux directeurs, et mené des politiques non conventionnelles : refinancement des banques à long terme en zone euro et quantitative easing dans les pays anglo-saxons et au Japon. Ces politiques ont conduit à des taux de rendement nominaux des obligations très faibles et même à des taux négatifs. Alors que les banques centrales sont apparues pendant la crise comme les seuls détenteurs de la puissance économique, la critique de leurs résultats (reprise faible et absence d’inflation modérée (2%)), fait l’objet d’une certaine déception. Elles paraissent impuissantes pour agir sur la macroéconomie, d’où la proposition dans l’article de quelques pistes pour rechercher une nouvelle politique monétaire impliquant une coordination des actions des banques centrales sous l’égide du FMI. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The central banks contemporaneous model is characterized by their independence and their policy goal : monetary stability. Policies followed from 1980 to 2007 are analyzed and qualified of “great moderation” on account of an inflation rate brought back to around 2%. This situation suffered a breach in 2007 because of the American subprime mortgage crisis. To tackle this situation, central banks have lowered their policy rate and carried out non-conventional policies : long term banks refunding in the euro zone and quantitative easing in the Anglo Saxon countries and in Japan. These policies led to weak and even negative bonds’ nominal rates. While central banks appeared during the crisis as the only holders of economic power, criticism dealing with their results (slow recovery and absence of a reduced inflation (2 %)), shows a relative disillusion. They appear to be powerless to act at a macroeconomic level, which is why in the article a few tracks are proposed to search for a new monetary policy involving a central banks’ actions coordination under the aegis of the IMF. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | assouplissement quantitatif |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | banques centrales |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | bulles financières |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | politiques non conventionnelles |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | taux de rendement nominaux des obligations |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | taux négatifs |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | bonds nominal rate of return |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | central banks |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | financial bubbles |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | negative rates |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | non-conventional policies |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | quantitative easing |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Vie & sciences de l'entreprise | 201 | 1 | 2016-11-24 | p. 9-31 | 2262-5321 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-vie-et-sciences-de-l-entreprise-2016-1-page-9?lang=fr&redirect-ssocas=7080">https://shs.cairn.info/revue-vie-et-sciences-de-l-entreprise-2016-1-page-9?lang=fr&redirect-ssocas=7080</a> |
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