Politiques économiques et dynamiques du taux de change et du prix des actions avec effets de "pass–through"

Meixing Dai () and Moïse Sidiropoulos ()
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Moïse Sidiropoulos: Université de Strasbourg.

Bulletin de l'Observatoire des politiques économiques en Europe, 2002, vol. LV, issue 1, 195–221

Abstract: In this paper, we study the effectiveness of economic policies in a framework of a small open economy where the relationship between the exchange rate, the stock price and the level of output under various interactions due to the incomplete pass-through and the wealth effects. It follows that, at the one hand, the effectiveness of fiscal and monetary policies changes according to the intensity of these effects and, at the other hand, the relationship between the exchange rate and the national stock price becomes more ambiguous than the results obtained by the traditional models.

Keywords: Exchange rate dynamics; pass-through; monetary policy; stock prices. (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2002
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Working Paper: Politiques économiques et dynamiques du taux de change et du prix des actions avec effets de “pass-through” (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:ulp:buopee:v:6:y:2002:m:3:i:1

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