Banque de France paper sketches policy routes for post-crisis central banks

banque-de-france
The Banque de France

A working paper published by the Banque de France sets out two stylised descriptions of the different approaches that central banks might take after the financial crisis.

In the paper, Christian Pfister and Natacha Valla call the first approach the “new normal”. In it, the goal of monetary policy is “broadened to encompass such objectives as financial stability or full employment”. In this approach, central banks’ inflation targets are raised. Central banks routinely use large-scale asset

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.