Dimension temporelle et taux de change d'équilibre. Une application au cas des États-Unis

Antonia López-Villavicencio, Jacques Mazier and Jamel Saadaoui
Authors registered in the RePEc Author Service: Antonia López Villavicencio

Revue économique, 2012, vol. 63, issue 3, 535-544

Abstract: In a unified theoretical framework introduced by López-Villavicencio et al. [2012], we analyze the two main models of equilibrium exchange rate, namely, the fundamental equilibrium exchange rate (feer) and the behavioral equilibrium exchange rate (beer). To understand the interactions between these two measures, we study in detail the temporal dimension. The case of the United States will illustrate our analysis that highlights the structural changes in competitiveness, the dynamics of net external positions and valuation effects in explaining the divergences. Classification JEL : F31, F32, C23

JEL-codes: C23 F31 F32 (search for similar items in EconPapers)
Date: 2012
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