Skip to Main content Skip to Navigation
Journal articles

Taux de change d'équilibre et politiques économiques : Une approche contingente

Abstract : Equilibrium exchange rate theories make the assumption that the Real Equilibrium Exchange Rate (rer) is independent from internal equilibrium and economic policies. We develop a model in which economic policies depend on the minimisation of an intertemporal loss function, and we show that in a Wage Setting-Price Setting (ws-ps) framework, the rer depends on the policymakers’ objectives, making the previous assumptions highly questionable. In our model, the long run (equilibrium) real exchange rate is contingent on policymakers’ preferences, implying that equilibrium exchange rate estimates must be treated with caution.
Document type :
Journal articles
Complete list of metadata

https://hal-sciencespo.archives-ouvertes.fr/hal-03459755
Contributor : Spire Sciences Po Institutional Repository Connect in order to contact the contributor
Submitted on : Wednesday, December 1, 2021 - 3:16:13 AM
Last modification on : Friday, March 25, 2022 - 3:43:45 AM

File

2008-bouveret-ducoudre-taux-de...
Publisher files allowed on an open archive

Identifiers

Collections

Citation

Antoine Bouveret, Bruno Ducoudre. Taux de change d'équilibre et politiques économiques : Une approche contingente. Revue Economique, Presses de Sciences Po, 2008, 59 (3), pp.551 - 560. ⟨10.3917/reco.593.0551⟩. ⟨hal-03459755⟩

Share

Metrics

Record views

2

Files downloads

1