Economics at your fingertips  

Basic Model Elasticities of the Macroeconomic Model for France of the Banque de France (FR-BDF)

Pierre Aldama () and Jean-François Ouvrard

Working papers from Banque de France

Abstract: This paper presents a set of Basic Model Elasticities (BMEs) of the Banque de France's new macroeconomic model for France, FR-BDF. A detailed description of the model is provided in Lemoine et al (2019) and this "BMEs workbook" is designed as a tool for practitioners of economic policy forecasting or analysis in France. It describes the model's response to a number of shocks grouped into three families: external shocks (oil prices, world demand, competitors’ prices), monetary and financial shocks (exchange rates, short-term interest rates, long-term interest rates, housing prices), public finance shocks (public consumption, public investment, social benefits, direct taxes, social contributions) and structural shocks (labor efficiency, labor force, equilibrium unemployment rate). These different BMEs also illustrate the convergence properties of the model, in particular the importance of monetary and financial channels and the link between the real and nominal spheres in the transmission and absorption of shocks.

Keywords: : Semi-Structural Modelling; Macroeconomic Forecasting; Macroeconomic Policy Analysis (search for similar items in EconPapers)
JEL-codes: E17 E6 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2020
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) ... cuments/wp750_en.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in Working papers from Banque de France Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS. Contact information at EDIRC.
Bibliographic data for series maintained by Michael brassart ().

Page updated 2022-06-27
Handle: RePEc:bfr:banfra:750