Unité mixte de recherche 7235

Food Prices and Inflation Targeting in Emerging Economies

Marc Pourroy, Benjamin Carton, Dramane Coulibaly

[en]The two episodes of food price surges in 2007 and 2011 have been particularly challenging for developing and emerging economies’ central banks and have raised the question of how monetary authorities should react to such external relative price shocks. We develop a new-Keynesian small open-economy model and show that non-food inflation is a good proxy for core inflation in high-income countries, but not for middle-income and low-income countries. Although, in these countries we find that associating non-food inflation and core inflation may be promoting badly designed policies, and consequently central banks should target headline inflation rather than non-food inflation. This result holds because non-tradable food represents a significant share in total consumption. Indeed, the poorer the country, the higher the share of purely domestic food in consumption and the more detrimental lack of attention to the evolution in food prices.[/en]

AGENDA

mardi 5 décembre 2023

Recherche et Economie et Socioéconomie Politique, des Institutions et des Régulations (RESPIR)

Clément Fontan (UC Louvain)

The ECB and the inflation monsters: strategic framing and the responsibility imperative (1998-2023)

jeudi 7 décembre 2023

Groupe de travail Economie Comportementale

Vincent Lenglin (Université Catholique de Lille)

TBA

jeudi 7 décembre 2023

Doctorants

Emmanuelle Faure

Explaining economic performances in the French employment zone: spatial externalities and related variety

lundi 11 décembre 2023

Law, Institutions and Economics in Nanterre (LIEN)

Bastien Michel (LEMNA, Nantes)

Measuring the Impact of Incarceration on Recidivism in Denmark

mercredi 13 décembre 2023

Économies du monde musulman

Chahir Zaki (LEO, Université d’Orléans)

Dette en Egypte : conjoncture défavorable ou structure vulnérable ?

jeudi 14 décembre 2023

Lunch

Hugo ORIOLA

Salle 101-102 à 12h

Opportunistic Political Central Bank Coverage: Does media coverage of ECB’s Monetary Policy Impacts German Political Parties’ Popularity?

jeudi 14 décembre 2023

Développement Durable Environnement et Energie (DDEE)

Emeline Bezin (CNRS/CREM)

Salle 101-102

TBA

jeudi 14 décembre 2023

Séminaire Econom’IA

Benjamin Ooghe-Tabanou (médialab - Sciences Po Paris)

Salle G614A de 11h à 12h30

Outils, méthodes et productions numériques à partir de données du web au médialab de Sciences Po

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