Croissance et répartition en France (1982-2006): une approche par les VAR cointégrés

Olivier Allain () and Nicolas Canry ()
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Nicolas Canry: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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Abstract: DISTRIBUTION AND GROWTH IN FRANCE (1982-2006): A COINTEGRATED VAR APPROACH. We propose a simple Post Keynesian model so as to test whether French economy is profit or wage-led i.e. whether a profit share increase has a positive or negative impact on economic growth. In that perspective, we estimate the three behaviour equations of our model (consumption, investment and net exports) by using a VECM. Then we solve our model by using the estimated coefficients and can then conclude on the nature of the French economic regime. Our main conclusion is that French economy would be weakly profit-led: a one point increase of profit share increases economic growth of only 0.1 %. This result might be explained by both weak multiplier (in an open economy) and accelerator effects in the estimated model.

Keywords: Income distribution; Wage moderation; Economic growth; Répartition des revenus; Modération salariale; Croissance; VECM (search for similar items in EconPapers)
Date: 2008-09-18
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Published in AFSE, 57ème congrès annuel, Sep 2008, Paris, France

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Working Paper: Croissance et répartition en France (1982-2006): une approche par les VAR cointégrés (2008)
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