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Frictions financières et Dynamique macroéconomique : Examen des régularités cycliques

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  • Katuala, Hénock M.

Abstract

La récente crise financière s’est accompagnée des chocs affectant les marchés interbancaires et immobiliers des économies, suite à quoi, des modèles avec des marchés financiers imparfaits ont été utilisés pour étudier des questions d’actualité importantes (Gerali et al., 2010; Christiano et al., 2010). De ce fait, il a été admis que le développement et les frictions du système financier peuvent avoir un impact décisif sur la croissance économique et sur la stabilité de l’économie (Bernanke et al., 1999; Gertler and Karadi, 2011). En recourant au modèle DSGE de type Néokeynésien pour une petite économie fermée, nous analysons les implications macroéconomiques des chocs affectants le système financier et vérifions la convergence entre les régularités cycliques théoriques et celles empiriques afin de valider le modèle pour le cas de la RDC. Nos résultats attestent que les chocs affectant l’économie réelle exercent une influence sur la dynamique du secteur financier alors que les frictions financières n’ont aucune incidence sur le cadre macroéconomique. Aussi, le recourt au Matching moment nous a permis d’affirmer que les régularités cycliques issues des moments théoriques et empiriques convergent.

Suggested Citation

  • Katuala, Hénock M., 2021. "Frictions financières et Dynamique macroéconomique : Examen des régularités cycliques," Dynare Working Papers 66, CEPREMAP.
    • Handle: RePEc:cpm:dynare:066
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    Keywords

    Frictions financières; Dynamique macroéconomique; Modèle DSGE Néokeynésien; Régularités cycliques; Comouvements; Volatilité; Persistance;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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