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Élasticité de substitution et balance des opérations courantes dans un modèle à deux pays

Published online by Cambridge University Press:  17 August 2016

Delphine Béraud
Delphine Béraud*
Affiliation:
MAD, Université de Paris Iet GREMI, Université du Maine
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Résumé

Dans un monde à deux pays où la mobilité du capital est parfaite, on analyse l'interdépendance des pays lorsque les agents n'ont pas la même élasticité de substitution intertemporelle dans les deux pays. Cette hypothèse implique que plus l'élasticité de substitution intertemporelle est importante, plus le taux de croissance de la consommation est grand. Deux résultats apparaissent: le premier est que la dynamique de l'économie mondiale n'est pas indépendante de la répartition des richesses. Le second concerne les échanges commerciaux et financiers entre les pays. L'écart entre les taux de croissance de la consommation de chaque pays dû à des préférences différentes des agents est un déterminant essentiel des dynamiques de la balance courante et de la balance commerciale des pays.

Summary

Summary

We analyse the interdependence of countries, in a two-country model, when the capital is perfectly mobile and the intertemporal elasticity of substitution differs across the two countries. It follows that the higher the elasticity of substitution, the higher the growth rate of consumption. Moreover, firstly, it is shown that the world economy is dependent of the sharing of wealth between countries. Secondly, we study trade and financial exchanges. The current account and the trade balance of countries are determined by dynamics of consumption of each countries.

Keywords

F21F32F4F21F32F4
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 64 , Issue 2 , 1998 , pp. 183 - 212
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1998 

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Footnotes

*

Je remercie A. d'Autume pour l'intérêt qu'il porte à ce travail ainsi que les participants du séminaire du MAD. Je suis seule responsable des éventuelles erreurs et omissions.

References

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