Economic Modelling at the Banque de France: Financial Deregulation and Economic Development in France

ISBN-13: 9780415136457 / Angielski / Twarda / 1996 / 270 str.

Michel Boutillier;Jean Cordier;Michel Boutillier

Opis

This volume analyzes the causes and consequences of French monetary policy and financial deregulation during the 1980s. Using recent econometric techniques, they demonstrate a strategy that the UK is still hesitating to fully adopt. This volume draws together a collection of complementary essays which use a variety of different research techniques to: show that the widening of the financial markets makes it relevant to model the financial assests of households and insurance companies using portfolio choice theory; explain how the French economy has deepened its integration into the world economy; and assess the overall impact of changes in interest rates and financial regulation on the macroeconomic stance through macroeconomic simulations and model structure analyses.

Economists at the Bank of France analyse causes and consequences of French monetary policy and financial deregulation during the 1980s. Using the latest econometric techniques, they demonstrate a strategy that the UK is still hesitating to fully adopt. These essays, never published in English before, offer a comprehensive and authoritative analysis.

Spis treści

Preface André Icard Introduction Michel Boutillier and Jean Cordier 1. The High and Low-Risk Asset Demand of French Households: A Multivariate Analysis Jérome Henry and Mariell Phélipot 2. Investment Choices of Insurance Companies: An Econometric Evaluation Roland Ricart 3. Risk Management by Credit Institutions: Macroeconomic Modelling Attempts Jean Cordier, Pascal Jacquinot and Dominique Plihon 4. The Role of Macroeconomic Factors in French Direct Investment Abroad Between 1979 and 1989: An Econometric Assessment Jérome Henry 5. French Economic Competitiveness and External Constraints Michel Aglietta and Camille Baulant 6. An Analysis of Uncovered Interest Parity in a System of Three Eurorates Jérome Henry and Jens Weidmann 7. One Look at the Way the French Financial System has Adapted to the New Monetary Policy Regime Michel Boutillier and Jean Cordier 8. How Changes in the Financial Sphere Affect the Internal Structure of a Financial Model Michel Boutillier and Pascal Jacquinot.

O autorze

Michel Boutillier, Jean Cordier