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Décalage cyclique entre les États-Unis et l’Europe, et évolution des taux d’intérêt

Published online by Cambridge University Press:  17 August 2016

Patrick Artus
Patrick Artus*
Affiliation:
Caise des Dépôts et Consignations, Paris
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Résumé

Nous analysons, à l’aide d’un modèle théorique à deux pays, si la reprise précoce de l’économie américaine implique une forte hausse des taux d’intérêt en Europe, qui mettrait en péril la reprise européenne. Nous examinons les effets des politiques monétaires, du degré de mobilité internationale du capital, de l’intensité des effets de richesse, et enfin de l’accumulation de dette extérieure aux États-Unis.

Summary

Summary

We analyse, using a two-country theoretical model, the effects of the early recovery of the US economy on interest rates in Europe. A sharp rise in european rates would clearly be very harmful for the european economic recovery. We examine the effects of monetary policies, of the degree of international mobility of capital, of the size of wealth effects and finally of the accumulation of foreign debt in the US.

Keywords

131311431131311431
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 62 , Issue 2 , 1996 , pp. 139 - 154
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1996 

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References

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