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Rigidité normale, dévaluation et équilibre général intertemporel

  • AKITOBY, Bernardin
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    La présente étude analyse les effets dynamiques de la dévaluation du franc CFA, à l’aide d’un modèle monétaire d’équilibre général, intertemporel et multisectoriel. L’accent est particulièrement mis sur les interactions entre dévaluation et accumulation du capital. Dans le modèle, les effets du changement de parité passent par le marché du travail qui se caractérise par l’inertie du salaire nominal. Les résultats montrent que la dévaluation relance l’investissement, avec des effets expansionnistes sur l’activité économique. Le choc monétaire n’a eu qu’un impact limité sur les soldes budgétaire et commercial. Une mesure d’accompagnement telle que la réduction des salaires de la fonction publique améliore ces deux soldes mais déclenche un processus récessif.

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    File URL: http://hdl.handle.net/1866/445
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    Paper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 9708.

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    Length: 38 pages
    Date of creation: 1997
    Date of revision:
    Handle: RePEc:mtl:montde:9708
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    4. J. Saul Lizondo & Peter J. Montiel, 1989. "Contractionary Devaluation in Developing Countries: An Analytical Overview," IMF Staff Papers, Palgrave Macmillan, vol. 36(1), pages 182-227, March.
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    30. repec:fth:harver:1438 is not listed on IDEAS
    31. Kamin, Steven B., 1995. "Contractionary devaluation with black markets for foreign exchange," Journal of Policy Modeling, Elsevier, vol. 17(1), pages 39-57, February.
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