Les déséquilibres externes des Etats-Unis conduisent-ils à des asymétries au sein de l'Union Economique et Monétaire ?
This paper investigates the consequences of US external imbalances on European economies using a three-country dynamics general equilibrium model. In the model, US external debt is simulated by means of a growth differential together with an exogenous shock on US external borrowing. This realistic level of US external debt is predicted to induce a nominal depreciation of the dollar between 10% and 14% compared to the Euro. symmetries in European trade structures affect the transmission of the shock through the channel of the current account and the real exchange rate, inducing production, consumption and inflation asymmetries among European economies. Their size depends on the relative degree of trade openness against the US. The characteristics of these asymmetries resemble those observed
Volume (Year): (2011)
Issue (Month): 103-104 ()
|Contact details of provider:|| Postal: |
Web page: http://annales.ensae.fr/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:adr:anecst:y:2011:i:103-104:p:11. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Robert Gary-Bobo)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.