IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Politique optimale de change pour la Tunisie

Listed author(s):
  • Moussa, Hassouna

    (Département de Sciences Économiques, Université Acadia)

Registered author(s):

    Transactions and uncertainty costs aside, economic theory suggests that a flexible exchange rate is the optimal choice for a small country that has a relatively large non-traded goods sector and for which the symmetric shocks are not important. The macroeconomic data for Tunisia covering the period 1961-1997 show that the non-traded goods sector is important. Two separate VAR models for Tunisia and France, the principal trading partner of Tunisia, were estimated. The models produced estimates of supply shocks and monetary and non-monetary demand shocks for each country. The study of the correlation of the shocks across the two countries shows that the symmetric shocks are not important. Accordingly, a flexible exchange rate is the optimal choice for Tunisia pending deeper economic integration of Tunisia in the European economy. Nonobstant les coûts de transactions et d’incertitude, la théorie économique suggère qu’un taux de change flexible soit le meilleur choix pour un petit pays dont le secteur des produits non échangeables est important et dans lequel les chocs symétriques sont peu importants. Utilisant des données macroéconomiques couvrant la période 1961-1997, on montre dans un premier temps que le secteur des produits non échangeables en Tunisie est important. Dans un deuxième temps on estime un modèle VAR pour la Tunisie et un autre pour la France. Ceci permet d’estimer des chocs d’offre et des chocs de demande monétaires et non monétaires qui ont affecté les deux pays durant la période 1961-1997. L’étude des corrélations entre les chocs montre que les chocs symétriques sont peu importants. On en conclut qu’il serait mieux pour la Tunisie de continuer à opérer avec un régime de taux de change flottant en attendant une intégration plus grande avec l’économie européenne.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

    Volume (Year): 77 (2001)
    Issue (Month): 1 (mars)
    Pages: 113-132

    in new window

    Handle: RePEc:ris:actuec:v:77:y:2001:i:1:p:113-132
    Contact details of provider: Web page:

    More information through EDIRC

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    in new window

    1. Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-673, September.
    2. Eichengreen, Barry, 1993. "European Monetary Unification," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1321-1357, September.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:77:y:2001:i:1:p:113-132. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruce Shearer)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.