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Taux de change et soutenabilité extérieure. Un modèle dynamique

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  • Yannick Bineau
  • Bernard Dupont

Abstract

This paper aims to study the way in which an economy must choose its exchange rate policy, in the case of external unbalance which in turn may affect external debt sustainability. A macro-dynamic external growth model can be presented when real income and international capital flows exert a fundamental influence. The main result is that the dynamics of external net claims are non linear and very sensitive to the economic context in which external debts are contracted. For endebted countries, external sustainability needs appropriate solutions that will vary depending on their specific characteristics. In particular being able to apprehend any policy based on a rise or fall in the exchange rate will by definition include the variables imposed by foreign trade elasticities. Classification JEL : E40 ; F21 ; F31 ; F44.

Suggested Citation

  • Yannick Bineau & Bernard Dupont, 2004. "Taux de change et soutenabilité extérieure. Un modèle dynamique," Revue économique, Presses de Sciences-Po, vol. 55(4), pages 675-688.
    • Handle: RePEc:cai:recosp:reco_554_0675
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    Cited by:

    1. Sara Labrar & Adil El Marhoum, 2020. "Morocco’s External Performance: An Empirical Assessment Of Export Competitiveness Determinants," International Journal of Business and Social Research, LAR Center Press, vol. 10(4), pages 22-35, April.

    More about this item

    JEL classification:

    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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