A Dynamic Model of the French Economy, with Rational Expectations, Monopolistic Competition and Labour Market Bargaining
AbstractThis paper describes a small dynamic model of the French economy in a situation of imperfect competition on all markets, with some nominal rigidity and part of households facing a liquidity constraint. Economic agents optimise over time. One of the features of this model is that the labour market is modeled in some detail. Dynamic and long-term multipliers are computed, under rational expectations, for changes in fiscal, para fiscal and budgetary policy, for alterations to the environment of France, and for structural shocks. These multipliers are given economic interpretation.
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Bibliographic InfoArticle provided by ENSAE in its journal Annals of Economics and Statistics.
Volume (Year): (1995)
Issue (Month): 37-38 ()
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