| Titre | La modélisation des taux de change d'équilibre et leur estimation pour l'euro, le dollar et le yen | |
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| Auteur | Laurent Maurin | |
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Revue | Economie et prévision |
| Numéro | no 142, 2000/1 | |
| Page | 1-11 | |
| Résumé anglais |
Modeling Equilibrium Exchange Rates and Estimating them for the Euro, Dollar and Yen by Laurent Maurin
This paper starts with a discussion of the problematic of equilibrium exchange rates and then presents NATREX. Based on this, we develop a model that studies both the foreign debt and real exchange rate dynamic in response to savings and productivity shocks.
We deduce an equilibrium exchange rate from the model for the dollar, the yen and a notional euro constructed by aggregating the non-European components of the actual exchange rates of the three participating countries. The econometric estimates bear out the model's proposals and can be used to study past exchange rate distortions. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_2000_num_142_1_5984 |
