Consumption, habit persistence and the effects of monetary policy.

Summary This thesis aims to improve the understanding of the mechanisms at work in the monetary policy transmission mechanism. The approach adopted allows us to evaluate the interest of certain monetary transmission models and to understand the mechanisms of non-neutrality of money. The implementation of an original methodology in the first chapter makes it possible to estimate the hypothesis of habit persistence in household consumption behavior and to show that this hypothesis is relevant conditionally to monetary history. The second chapter shows that the introduction of habit persistence in a limited-participation model allows the reproduction of a persistent liquidity effect. Finally, in the last chapter, the habit formation hypothesis is considered within a model with prior cash constraints. It is shown that it is possible, depending on individuals' beliefs about money, to reproduce Keynesian effects, the transmission mechanism of monetary policy and the liquidity effect, within an originally and definitively neoclassical framework.