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Commerce et flux financiers internationaux : MIRAGE-D

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  • André Lemelin

Abstract

MIRAGE-D is a version of MIRAGE which has been modified to take into account the implications of international trade on countries’ international investment positions (IIPs). Each country or group of countries is represented in the model by a single economic agent, who distributes its wealth among assets following a three-stage portfolio allocation model. MIRAGE-D also proposes a mechanism for distributing investments among industries and countries along the lines of Tobin’s « q » theory, which is different from MIRAGE’s gravity rationale. The comparison between MIRAGE and MIRAGE-D shows that differences in the results are moderate, but nonetheless significant.

Suggested Citation

  • André Lemelin, 2009. "Commerce et flux financiers internationaux : MIRAGE-D," Working Papers 2009-27, CEPII research center.
  • Handle: RePEc:cii:cepidt:2009-27
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    Cited by:

    1. Lemelin, André & Robichaud, Véronique & Decaluwé, Bernard, 2013. "Endogenous current account balances in a world CGE model with international financial assets," Economic Modelling, Elsevier, vol. 32(C), pages 146-160.

    More about this item

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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