IDEAS home Printed from https://ideas.repec.org/p/fth/pariem/92.38.html
   My bibliography  Save this paper

La transmission internationale des fluctuations: une explication de la correlation croisee des consommations

Author

Abstract

[fre] La transmission internationale des fluctuations. Une explication de la corrélation croisée des consommations. . Cet article propose un modèle d'équilibre général à deux pays et un bien, qui rend compte de la faible corrélation observée entre les consommations des principaux pays industrialisés tout en préservant les qualités des modèles existants. Cette amélioration provient de la modification de l'indice de consommation pour inclure la consommation publique en plus de la consommation privée dans les préférences des agents, qui permet aux chocs de dépenses publiques d'affecter l'utilité marginale de la consommation. Le mo­dèle présenté reproduit également bien la forte corrélation observée entre taux d'épargne et taux d'investissement et le caractère contracyclique des exportations nettes. Ces trois caractéristiques du modèle sont très peu sensibles aux paramètres retenus pour décrire le processus suivi par les chocs de productivité, contrairement à la corrélation des produits. En effet, seule une forte corrélation des chocs de productivité domestiques et étrangers permet de reproduire cette statistique. Sur ce point, le modèle proposé ici rencontre le même problème que les modèles existants. [eng] The international transmission of real business cycles : explaining the cross-country consumption correlations. . This paper develops a simple one-sector, two-country equilibrium model which accounts for the relatively low cross-country consumption correlations without damaging the areas of success of existing models. This improvement arises from the modification of the consumption index in order to add public consumption to private consumption in the preference of the agents, which allows shocks to government purchases to aller the marginal utility of consumption. Then, mis model explains quite well both the high correlation between saving and investment and the countercyclicality of the net exports. These three features are robust to the choice of parameters gover
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Bec, F., 1992. "La transmission internationale des fluctuations: une explication de la correlation croisee des consommations," Papiers d'Economie Mathématique et Applications 92.38, Université Panthéon-Sorbonne (Paris 1).
  • Handle: RePEc:fth:pariem:92.38
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    Keywords

    cycles economiques ; theorie economique;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fth:pariem:92.38. 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: (Thomas Krichel). General contact details of provider: http://edirc.repec.org/data/cerp1fr.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.