Un modèle économétrique de déséquilibre à deux secteurs et son apport à l'analyse des politiques économiques
Year: 1987
Type: article
Abstract: A Disequilibrium Macroeconometric Model of the French Economy with two Sectors and Endogenous Investment Patrick Artus, Sanvi Avouyi-Dovi, Jean-Pierre Laffargue This paper presents a two sector, (tradable and non tradable) disequilibrium model, with endogenized investment, for France. The estimation results confirm those previously obtained both by aggregated disequilibrium models where keynesian unemployment prevailed after the second oil shock, as well as by the sectoral model or estimations of tradable goods export and import functions, when classical unemployment prevailed. Tradable sector production is constrained by profitable production capacity (classical unemployment) and the non tradable production sector (about two thirds of GDP) is limited by the weakness of demand. The simulations presented in the last part of the paper show how a two sector disequilibrium model with endogenized investment can improve political economic analysis.
Source: Revue de l OFCE
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2057791738