Effets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement.
In this paper we examine a hierarchy of CGE models for a small open economy in which each model is distinguished from its predecessor by the way in which the economy's asset markets are characterized. Each model is subjected to the same simple macroeconomic policy shock. We emphasise two differ...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | French |
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De Boeck Université
1998
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| _version_ | 1797065456046047232 |
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| author | Adam, C Bevan, D |
| author_facet | Adam, C Bevan, D |
| author_sort | Adam, C |
| collection | OXFORD |
| description | In this paper we examine a hierarchy of CGE models for a small open economy in which each model is distinguished from its predecessor by the way in which the economy's asset markets are characterized. Each model is subjected to the same simple macroeconomic policy shock. We emphasise two different features of assets markets, those involving real portfolio effects and those involving nominal effects (money demand, wealth effects, capital gains, and intermediation): the differential impact of these on the performance of the real economy is examined. We argue that although fully articulated asset market models encounter formidable conceptual as well as calibration problems, which may limit their utility, there are large gains to be had from incorporating at least some limited treatment of assets (for example in a relatively basic portfolio model) in the analysis of macroeconomic policy shocks. |
| first_indexed | 2024-03-06T21:28:55Z |
| format | Journal article |
| id | oxford-uuid:4400ad1e-84bd-44f3-8a4c-1984ca182013 |
| institution | University of Oxford |
| language | French |
| last_indexed | 2024-03-06T21:28:55Z |
| publishDate | 1998 |
| publisher | De Boeck Université |
| record_format | dspace |
| spelling | oxford-uuid:4400ad1e-84bd-44f3-8a4c-1984ca1820132022-03-26T14:59:02ZEffets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:4400ad1e-84bd-44f3-8a4c-1984ca182013FrenchDepartment of Economics - ePrintsDe Boeck Université1998Adam, CBevan, DIn this paper we examine a hierarchy of CGE models for a small open economy in which each model is distinguished from its predecessor by the way in which the economy's asset markets are characterized. Each model is subjected to the same simple macroeconomic policy shock. We emphasise two different features of assets markets, those involving real portfolio effects and those involving nominal effects (money demand, wealth effects, capital gains, and intermediation): the differential impact of these on the performance of the real economy is examined. We argue that although fully articulated asset market models encounter formidable conceptual as well as calibration problems, which may limit their utility, there are large gains to be had from incorporating at least some limited treatment of assets (for example in a relatively basic portfolio model) in the analysis of macroeconomic policy shocks. |
| spellingShingle | Adam, C Bevan, D Effets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement. |
| title | Effets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement. |
| title_full | Effets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement. |
| title_fullStr | Effets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement. |
| title_full_unstemmed | Effets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement. |
| title_short | Effets de portefeuille, marches financiers et modeles EGC dans les pays en voie de developpement. |
| title_sort | effets de portefeuille marches financiers et modeles egc dans les pays en voie de developpement |
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