Substitutions de consommation, rigidité des prix et soutenabilité du régime de change fixe

Jean-Sébastien Pentecôte () and Jean-Christophe Poutineau ()

Revue économique, 2003, vol. 54, issue 4, 743-771

Abstract: In this article, a unified framework is built with the aim at underlying the main features of the first two generations of currency crisis models. It lies in the new open-economy literature. The purpose is to give a new way of understanding the relationship between the current account sustainability and fixed exchange rate regime collapses. It is then shown how the interference between structural parameters with those describing private and public behaviors may lead to the abandonment of the fixed exchange rate regime. Therefore, attention is paid on both the private intertemporal tradeoffs among differenced goods and price rigidity in the short run. Classement JEL : E58, F33, F41

JEL-codes: E58 F33 F41 (search for similar items in EconPapers)
Date: 2003
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