HAL will be down for maintenance from Friday, June 10 at 4pm through Monday, June 13 at 9am. More information
Skip to Main content Skip to Navigation
Journal articles

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

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.
Document type :
Journal articles
Complete list of metadata

https://hal-sciencespo.archives-ouvertes.fr/hal-03458155
Contributor : Spire Sciences Po Institutional Repository Connect in order to contact the contributor
Submitted on : Tuesday, November 30, 2021 - 7:52:45 PM
Last modification on : Friday, March 25, 2022 - 3:46:44 AM

File

1992-04-sterdyniak-de-la-flexi...
Publisher files allowed on an open archive

Identifiers

Collections

Citation

Agnès Bénassy-Quéré, Murielle Fiole, Emmanuel Fourmann, Henri Sterdyniak. 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. Revue de l'OFCE, Presses de Sciences Po, 1992, pp.201 - 247. ⟨10.3406/ofce.1992.1273⟩. ⟨hal-03458155⟩

Share

Metrics

Record views

1

Files downloads

0