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Substitutions de consommation, rigidité des prix et soutenabilité du régime de change fixe

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  • Jean-Sébastien Pentecôte
  • Jean-Christophe Poutineau

Abstract

In this article, a unified framework is built with the aim at underlying the main features of the first two generations of currency crisis models. It lies in the new open-economy literature. The purpose is to give a new way of understanding the relationship between the current account sustainability and fixed exchange rate regime collapses. It is then shown how the interference between structural parameters with those describing private and public behaviors may lead to the abandonment of the fixed exchange rate regime. Therefore, attention is paid on both the private intertemporal tradeoffs among differenced goods and price rigidity in the short run. Classement JEL : E58, F33, F41

Suggested Citation

  • Jean-Sébastien Pentecôte & Jean-Christophe Poutineau, 2003. "Substitutions de consommation, rigidité des prix et soutenabilité du régime de change fixe," Revue économique, Presses de Sciences-Po, vol. 54(4), pages 743-771.
    • Handle: RePEc:cai:recosp:reco_544_0743
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    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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