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Politiques économiques et dynamiques du taux de change et du prix des actions avec effets de "pass–through"

Author

Listed:
  • Meixing Dai

    (Université de Strasbourg)

  • Moïse Sidiropoulos

    (Université de Strasbourg.)

Abstract

In this paper, we study the effectiveness of economic policies in a framework of a small open economy where the relationship between the exchange rate, the stock price and the level of output under various interactions due to the incomplete pass-through and the wealth effects. It follows that, at the one hand, the effectiveness of fiscal and monetary policies changes according to the intensity of these effects and, at the other hand, the relationship between the exchange rate and the national stock price becomes more ambiguous than the results obtained by the traditional models.

Suggested Citation

  • Meixing Dai & Moïse Sidiropoulos, 2002. "Politiques économiques et dynamiques du taux de change et du prix des actions avec effets de "pass–through"," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 0(1), pages 195-221, December.
    • Handle: RePEc:ulp:buopee:v:6:y:2002:m:3:i:1
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    More about this item

    Keywords

    Exchange rate dynamics; pass-through; monetary policy; stock prices.;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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