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La détermination des taux de change dans les modèles multinationaux : l'état de l'art

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  • Agnès Bénassy
  • Henri Sterdyniak

Abstract

[eng] Establishing Exchange Rates in Multinational Models : A State of the Art, . by Agnès Bénassy, Henri Sterdyniak.. . This article analyses different theoretical models for establishing exchange rates and develops those which are used in multinational models. It examines the impact of choices over expectations,the balance sheet effects and monetary policy. This theoretical framework then makes it possible to examine how multinational empirical models handle exchange rates. [fre] La détermination des taux de change dans les modèles multinationaux : l'état de l'art, . par Agnès Bénassy, Henri Sterdyniak.. . Cet article analyse les différents modèles théoriques de détermination du taux de change et présente ceux qui sont retenus dans les modèles multinationaux. Il examine l'impact des choix relatifs aux anticipations, aux effets patrimoniaux et à la politique monétaire. Ce cadre théorique permet ensuite d'étudier la manière dont les modèles empiriques multinationaux traitent les taux de change. [ger] Die Bestimmung der Wechselkurse in den multinationalen Modellen: eine Bestandsaufnahme, . von Agnès Bénassy, Henri Sterdyniak.. . In diesem Artikel werden die verschiedenen theoretischen Modelle für die Bestimmung der Wechselkurse analysiert und diejenigen aufgeführt, die bei den multinationalen Modellen zur Anwendung kommen. Untersucht wird die jeweilige Auswirkung der Optionen hinsichtlich der Vorwegnahmen, der Folgen für die Bilanzvermögenswerte sowie der Währungspolitik. Innerhalb dieses theoretischen Rahmens kann dann untersucht werden, wie die Wechselkurse in den multinationalen empirischen Modellen behandelt werden. [spa] Determinación de los tipos de cambio en los modelos multinacionales: estado del arte, . por Agnès Bénassy y Henri Sterdyniak.. . En el presente artículo se analizan los diversos modelos teóricos de determinación del tipo de cambio y se presentan los utilizados en los modelos multinacionales. Acto seguido se analiza el impacto de las decisiones relativas a las anticipaciones, a los efectos patrimoniales y a la política monetaria. Este marco teórico permite estudiar a continuación la forma en que los modelos empíricos tratan los tipos de cambio.

Suggested Citation

  • Agnès Bénassy & Henri Sterdyniak, 1992. "La détermination des taux de change dans les modèles multinationaux : l'état de l'art," Économie et Prévision, Programme National Persée, vol. 104(3), pages 39-71.
    • Handle: RePEc:prs:ecoprv:ecop_0249-4744_1992_num_104_3_5293
    DOI: 10.3406/ecop.1992.5293
    Note: DOI:10.3406/ecop.1992.5293
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    Cited by:

    1. Jérôme Creel & Henri Sterdyniak, 1999. "La politique monétaire sans monnaie," Revue de l'OFCE, Programme National Persée, vol. 70(1), pages 111-153.
    2. Fabrice Capoen & Jérôme Creel & Pascal Cussy & Hélène Lenoble-Liaud, 2000. "How to manage speculative shocks : intra-european vs. international monetary coordination," Sciences Po publications N° 2000-01, Sciences Po.
    3. repec:hal:spmain:info:hdl:2441/2961 is not listed on IDEAS
    4. repec:hal:spmain:info:hdl:2441/2978 is not listed on IDEAS
    5. Antoine Bouveret, 2010. "Politiques économiques, dynamique et équilibre de long terme du taux de change," Sciences Po publications info:hdl:2441/53r60a8s3ku, Sciences Po.
    6. Antoine Bouveret, 2010. "Economic policies, long run equilibrium and exchange rate dynamics [Politiques économiques, dynamique et équilibre de long terme du taux de change]," SciencePo Working papers Main tel-04097866, HAL.
    7. Fabrice Capoën & Pierre Villa, 1997. "Internal and External Policy Coordination: a Dynamic Analysis," Working Papers 1997-15, CEPII research center.
    8. repec:hal:spmain:info:hdl:2441/5221 is not listed on IDEAS
    9. repec:spo:wpecon:info:hdl:2441/53r60a8s3kup1vc9kd52ge69h is not listed on IDEAS
    10. repec:hal:wpspec:info:hdl:2441/53r60a8s3kup1vc9kd52ge69h is not listed on IDEAS
    11. Bruno Ducoudre, 2008. "Structure par terme des taux d’intérêt et anticipations de la politique économique," Sciences Po publications info:hdl:2441/5221, Sciences Po.
    12. repec:hal:spmain:info:hdl:2441/53r60a8s3kup1vc9kd52ge69h is not listed on IDEAS

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