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Les déterminants du solde de la balance des transactions courantes au Luxembourg

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  • Abdelaziz Rouabah

Abstract

La balance des transactions courantes de la balance des paiements luxembourgeoise est confrontée à une forte modification de ses composantes: déficit persistant de la balance des biens, dégradation du solde des revenus d'investissement, évolution inquiétante des transferts courants,... Mais quelles en sont les causes? Sont-elles d'origine structurelle ou sont-elles d'une nature passagère? Sont-elles liées à une perte de compétitivité ou sont-elles la consequence d'une croissance économique atone favorisant ainsi le déséquilibre de la balance des operations courantes? C'est à cet ensemble de questions que nous allons essayer de répondre en adoptant deux types d'approches. La première consiste à utiliser des modèles de la balance commerciale (biens et services) de type «Mundell-Fleming» afin d'estimer des élasticités critiques (condition de Marshall Lerner) ou de déterminer l'existence d'une courbe en J. La seconde approche consiste à utiliser les modèles intertemporels de la balance courante dans lesquels les économies échangent un même bien (ou deux biens échangeables: importation et exportation) afin de tester les comportements de lissage intertemporel de la consommation, de l'épargne et de l'investissement des agents.

Suggested Citation

  • Abdelaziz Rouabah, 2005. "Les déterminants du solde de la balance des transactions courantes au Luxembourg," BCL working papers 13, Central Bank of Luxembourg.
    • Handle: RePEc:bcl:bclwop:bclwp013
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    Cited by:

    1. Christophe Blot & Marion Cochard, 2008. "L'énigme des exportations revisitée," Post-Print hal-03461842, HAL.
    2. Christophe Blot & Marion Cochard, 2008. "L'énigme des exportations revisitée. Que faut-il retenir des données de panel ?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 67-100.
    3. repec:hal:spmain:info:hdl:2441/6404 is not listed on IDEAS
    4. Christophe Blot & Marion Cochard, 2008. "L'énigme des exportations revisitée," SciencePo Working papers Main hal-03461842, HAL.

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    More about this item

    Keywords

    compte de transactions courantes; compétitivité-prix; modèle intertemporel de la balance des transactions courantes;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

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