Une maquette de moyen terme de l'économie française

Antoine d'Autume () and Alain Quinet ()
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Antoine d'Autume: EUREQUA - Equipe Universitaire de Recherche en Economie Quantitative - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper presents a simple small-scale model of the French economy, which can be used for forecasting and assessing shocks and macroeconomic policies. We model a small open economy with fixed exchange rates and a given real interest rate. The economy has two sectors, namely tradable and non-tradable goods. Agents'behaviour is described simply and robustly, without the introduction of rational expectations and with the systematic use of error correction mechanisms. The dynamics of financial wealth are taken into account, since wealth effects naturally ensure the long-run convergence of per capita wealth and the satisfaction of solvency constraints. The short-run dynamics incorporate the Keynesian sticky price and wage elements. The model's long-run aspect is largely calibrated and the short-run dynamics are estimated.

Keywords: macroéconomie-chômage-politique économique-modélisation; macroeconomics-unemployment-economic policy-economic modelling (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (2)

Published in Economie et Prévision, 2001, 148 (2), pp.1-21

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00202027

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