登入選單
返回Google圖書搜尋
其他書名
Evidence for France, 1970-1994
出版International Monetary Fund, 1995-11-01
主題Business & Economics / Exports & ImportsBusiness & Economics / Economics / MacroeconomicsBusiness & Economics / Money & Monetary Policy
ISBN14519402389781451940237
URLhttp://books.google.com.hk/books?id=lYkYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper estimates a simple consumption-smoothing model of the French current account, and examines its capacity to predict recent developments in France’s external performance. The model views the current account as a buffer through which private agents can smooth consumption over time in response to temporary disturbances to output, investment, and government expenditure. The empirical results indicate that the model performs well overall, and predicts correctly the sharp turnaround in France’s external accounts observed in the past three years—a feature of the data that conventional models of trade flows, based on income and relative price variables, appear unable to explain.