De la flexibilité du taux de change et de ses conséquences macroéconomiques: la détermination des taux d'intérêt et des taux de change dans le modèle MIMOSA

Agnès Benassy-Quere, Murielle Fiole, Emmanuel Fourmann and Henri Sterdyniak ()
Additional contact information
Emmanuel Fourmann: AFD - Agence française de développement

Post-Print from HAL

Abstract: This paper presents a first attempt to endogenize exchange rates and interest rates in the MIMOSA multinational macroeconometric model, jointly built and used by the CEPII and the OFCE. We briefly survey the hypothesis, structure and properties of the main models proposed by the economic theory : expectations specification, monetary policy description, wealth effect and external constraint. Others multinational models specifications are classified. Then, we justify the choice of a specification combining a portfolio approach, monetary authorities reaction functions and semi-rational expectations by private agents. Estimation results for the financial behaviors and new simulation properties for the integrated MIMOSA model are then presented. At last, exogeneous financial hypothesis made by the MIMOSA team for its 1991 forecast are evaluated using the new integrated model.

Keywords: Taux de change; Taux d'intérêt; Conséquences macroéconomiques (search for similar items in EconPapers)
Date: 1992-04
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03458155v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Revue de l'OFCE, 1992, 40, pp.201 - 247. ⟨10.3406/ofce.1992.1273⟩

Downloads: (external link)
https://sciencespo.hal.science/hal-03458155v1/document (application/pdf)

Related works:
Journal Article: De la flexibilité des taux de change et de ses conséquences macroéconomiques [La détermination des taux d'intérêt et des taux de change dans le modèle MIMOSA ] (1992)
Working Paper: De la flexibilité du taux de change et de ses conséquences macroéconomiques: la détermination des taux d'intérêt et des taux de change dans le modèle MIMOSA (1992)
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: https://EconPapers.repec.org/RePEc:hal:journl:hal-03458155

DOI: 10.3406/ofce.1992.1273

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().