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Distorsions monétaires et commerce

Listed author(s):
  • Gérard Lafay
Registered author(s):

    [fre] Le fonctionnement de l'Organisation mondiale du commerce dépend des conditions relatives de prix et de salaires dans les différentes régions du monde. A cet égard, les taux de change jouent un rôle crucial. Faisant le point sur les distorsions monétaires, cet article présente d'abord une analyse des distorsions observées, en montrant que les différences relatives de productivité entre le secteur exposé et le secteur abrité n'en expliquent qu'une fraction minoritaire. Il décrit ensuite les effets de ces distorsions sur les économies nationales : ceux-ci ne passent pas les balances commerciales, mais ils s'exercent sur les conditions de crois- sance en créant un « coin monétaire » sur le marché du travail. [eng] The new World Trade Organization has to deal with relative price and wage levels in the different areas of the world economy. As far as exchange rate are concerned, they play a capital role in the perspective of globalization. The first part of this paper analyses the monetary discrepancies which can be observed. It shows that relative productivity differences, between traded and non traded goods, explain only a minor part of this phenonemon. The second part is devoted to the results of this monetary discrepancies : they do not affect trade balances, but they create a « monetary wedge » on the labor market, having a strong effect on GDP growth rates of the national economies

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    Article provided by Programme National Persée in its journal Revue française d'économie.

    Volume (Year): 12 (1997)
    Issue (Month): 4 ()
    Pages: 123-140

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    Handle: RePEc:prs:rfreco:rfeco_0769-0479_1997_num_12_4_1429
    Note: DOI:10.3406/rfeco.1997.1429
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