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Choix de portefeuille des ménages et actifs à faible risque : une évaluation de la déréglementation des marchés financiers

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  • Roland Ricart

Abstract

[fre] Choix de portefeuille des ménages et actifs à faible risque. Une évaluation de la déréglementation des marchés financiers. . Les OPCVM de court terme jouent un rôle majeur dans la déformation de la structure des placements des ménages au cours des années quatre-vingt. Dans le cadre d'un modèle de choix de portefeuille, l'interprétation de ce phénomène sous la forme d'un choc d'offre permet de montrer que la transformation déjà observée devrait se poursuivre plusieurs années. Elle modifierait, encore au début des années quatre-vingt-dix, le rythme d'évolution des principaux agrégats de monnaie. [eng] Households'portfolio selection and low-risk assets : an evaluation of the deregulation of financial markets.. . Changes which have occured during the eighties in the distribution of household financial portfolio are strongly linked to the surge of short terme mutual funds (UCITS). Within a flow of funds approach, the portfolio reallocation is assumed to be the result of a supply shock. It is thus shown that this phenomenum would be still effective for many years and therefore would affect the growth rate of main monetary aggregates at the begining of the nineties.

Suggested Citation

  • Roland Ricart, 1994. "Choix de portefeuille des ménages et actifs à faible risque : une évaluation de la déréglementation des marchés financiers," Revue Économique, Programme National Persée, vol. 45(6), pages 1401-1422.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1994_num_45_6_409616
    DOI: 10.3406/reco.1994.409616
    Note: DOI:10.3406/reco.1994.409616
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    References listed on IDEAS

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    3. Patrick ARTUS & Eric BLEUZE, 1989. "Les choix de portefeuille des ménages en France," Discussion Papers (REL - Recherches Economiques de Louvain) 1989022, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    4. Patrick Artus & Florence Legros & Éric Bleuze & Jean-Paul Nicolaï, 1991. "Épargne des ménages, choix de portefeuille et fiscalité en France," Revue Économique, Programme National Persée, vol. 42(4), pages 663-700.
    5. Eric Bleuze & Jean-Marie Rousseau, 1989. "Les choix de portefeuille des ménages quel partage de la liquidité ?," Économie et Prévision, Programme National Persée, vol. 90(4), pages 45-56.
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