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Les restrictions volontaires d'exportations


  • Philippe Ithurbide


[eng] The voluntary export restraints: a magroeconomic analysis under flexible exchanges rates. . The purpose of this paper is to precise the incidence of Voluntary Export Restraints (V.E.R.) under a flexible exchange rate regime. First, in a partial equilibrium framework, we show that there is a non-equivalence between tariff, quota and V.E.R., particularly regarding the terms of trade. A macro-model (including a disaggregated real sector (traded goods and non traded goods) and taking into account different assumptions for the monetary illusion on the labour market) enables to emphasize the expansionist character of such a measure on the tradable sector (as well in the short run as in the long run and independently of the wage indexation degree), to the detriment however of the non tradable sector and trade deficits. [fre] Les restrictions volontaires d'exportations. Une analyse macro-économique en régime de changes flexibles . . Cet article a pour objet de préciser l'incidence d'une politique de restrictions volontaires des exportations étrangères (RVE) en changes flexibles. Tout d'abord, dans un cadre d'équilibre partiel, on montre dans quelle mesure il y a une non-équivalence entre un droit de douane, un quota et une RVE ; en particulier, il apparaît que seule cette dernière modifie les termes de l'échange. Ensuite, une analyse macro-économique (à l'aide d'un modèle comprenant notamment un secteur réel désagrégé (biens échangeables et biens non échangeables) et tenant compte de différentes hypothèses en matière d'illusion monétaire sur le marché du travail) permet de mettre en évidence le caractère expansionniste (aussi bien à court terme qu'à plus long terme et indépendamment du degré d'indexation des salaires) d'une telle mesure, sur le secteur protégé, au détriment cependant du secteur abrité et de déficits commerciaux.

Suggested Citation

  • Philippe Ithurbide, 1987. "Les restrictions volontaires d'exportations," Revue Économique, Programme National Persée, vol. 38(1), pages 25-54.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1987_num_38_1_408968
    DOI: 10.3406/reco.1987.408968
    Note: DOI:10.3406/reco.1987.408968

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    References listed on IDEAS

    1. Eichengreen, Barry J., 1981. "A dynamic model of tariffs, output and employment under flexible exchange rates," Journal of International Economics, Elsevier, vol. 11(3), pages 341-359, August.
    2. Maurice Obstfeld, 1982. "Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?," The Quarterly Journal of Economics, Oxford University Press, vol. 97(2), pages 251-270.
    3. Kent Jones, 1984. "The Political Economy of Voluntary Export Restraint Agreements," Kyklos, Wiley Blackwell, vol. 37(1), pages 82-101, February.
    4. Takacs, Wendy E., 1978. "The nonequivalence of tariffs, import quotas, and voluntary export restraints," Journal of International Economics, Elsevier, vol. 8(4), pages 565-573, November.
    5. Carl Hamilton, 1981. "A new approach to estimation of the effects of non-tariff barriers to trade: An application to the Swedish textile and clothing industry," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 117(2), pages 298-325, June.
    6. Carl Hamilton, 1985. "Voluntary Export Restraints and Trade Diversion," Journal of Common Market Studies, Wiley Blackwell, vol. 23(4), pages 345-355, June.
    7. Calvo, Guillermo A & Rodriguez, Carlos Alfredo, 1977. "A Model of Exchange Rate Determination under Currency Substitution and Rational Expectations," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 617-625, June.
    8. Eichengreen, Barry J., 1983. "Effective protection and exchange-rate determination," Journal of International Money and Finance, Elsevier, vol. 2(1), pages 1-15, April.
    9. Robert P. Flood & Nancy Peregrim Marion, 1982. "The Transmission of Disturbances under Alternative Exchange-Rate Regimes with Optimal Indexing," The Quarterly Journal of Economics, Oxford University Press, vol. 97(1), pages 43-66.
    10. Krugman, Paul, 1982. "The macroeconomics of protection with a floating exchange rate," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 16(1), pages 141-182, January.
    11. Richard Harris, 1985. "Why Voluntary Export Restraints Are 'Voluntary.'," Canadian Journal of Economics, Canadian Economics Association, vol. 18(4), pages 799-809, November.
    12. Persson, Torsten & Svensson, Lars E O, 1985. "Current Account Dynamics and the Terms of Trade: Harberger-Laursen-Metzler Two Generations Later," Journal of Political Economy, University of Chicago Press, vol. 93(1), pages 43-65, February.
    13. Svensson, Lars E O & Razin, Assaf, 1983. "The Terms of Trade and the Current Account: The Harberger-Laursen-Metzler Effect," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 97-125, February.
    14. Nancy Peregrim Marion & Lars E.O. Svensson, 1982. "Structural Differences and Macroeconomic Adjustment to Oil Price Increases in a Three-Country Model," NBER Working Papers 0839, National Bureau of Economic Research, Inc.
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