Apprécier une dévaluation

Michèle Debonneuil and Henri Sterdyniak ()
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Michèle Debonneuil: CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique

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Abstract: The analysis of the mechanical consequences of the depreciation of a currency is, in this article, carried out in a broader perspective than is usually the case, for the impact of the instantaneous change in parity is studied both for the country involved as for its foreign partners. Three cases have been considered : the devaluation of the franc, the appreciation of the dollar-yen, and the appreciation of the mark-florin. In each case, the change of parity amounts to 10 % against any other currencies. Each case studied creates specific trends for France. Thus, it emerges that, although a devaluation of the franc allows for added competitiveness which favours exporting industries, it brings about an immediate mouvement in the external balance which benefits the foreign countries. The appreciation of foreign currencies brings out clearly an enlightening fact : the most favorable situation for France is when the dollar is weak and the mark strong.

Date: 1982-03
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Published in Economie et Statistique / Economics and Statistics, 1982, 142, pp.41 - 61

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03416959

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