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L'Allemagne joue-t-elle le rôle de locomotive vis-à-vis de la France ?

  • Catherine Bruno
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    [eng] International real business cycles : is Germany a locomotive for France ? Catherine Bruno A major focus of attention in macroeconomics in recent years has been to identify empirically the forces that induce fluctuations in econo- mic aggregates. The motivation of this literature has been to assess the relative importance of real versus nomimal shocks in the generation and propagation of business cycles. The purpose of this paper is to extend this literature to an open-economy setting . We develop and estimate a multivariate, structural model to measure the relative contribution of supply, demand, monetary and competitiveness shocks in explaining French and German economic fluctuations. We also compare French and German stylized facts to each other. Our goal is to ask if Germany is a locomotive for France over the 1960-1989 sample. We notice that German output expansion always precedes French one and that Germany is a locomotive for France in the case of common supply shocks. [fre] Cette étude propose une évaluation des liens économiques qu'entretiennent la France et l'Allemagne sur la période 1960-1989. Plus précisément, nous nous demandons si l'Allemagne a joué au cours des trente dernières années le rôle de locomotive vis-à-vis de la France. Nous recourons à l'économétrie des séries temporelles — la modélisation vectorielle autorégressive structurelle — pour évaluer les sources de fluctuations des économies française et allemande, sources de fluctuations qui sont soit spécifiquement nationales soit communes aux deux pays. Nous complétons l'étude des relations entre la France et l'Allemagne par une présentation des faits stylisés des deux économies. La comparaison des faits stylisés allemands et français d'une part, et l'étude des sources de fluctuations des deux économies dans le cadre d'un modèle vecto- riel autorégressif d'autre part, confirment le rôle de locomotive joué par l'Allemagne dans ses échanges avec la France.

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    Article provided by Programme National Persée in its journal Revue de l'OFCE.

    Volume (Year): 53 (1995)
    Issue (Month): 1 ()
    Pages: 165-195

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    Handle: RePEc:prs:rvofce:ofce_0751-6614_1995_num_53_1_1395
    Note: DOI:10.3406/ofce.1995.1395
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