Impact du fardeau virtuel de la dette sur le taux de change réel d’équilibre des pays en développement : un modèle théorique

The main objective of this paper is to study the relationship between external public debt and equilibrium real exchange rate in developing countries. Using a extension of Obstfeld & Rogoff (1995) model we show that debt overhang tend to appreciate real exchange rate in the long run (Krugman (1979), Sargent & Wallace (1989)). The relationship between debt overhang and real exchange rate is obtaining with endogeneity of economic growth.

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Year of publication:	2004-03
Authors:	Sène, Babacar
Institutions:	Université Paris-Dauphine (Paris IX)
Subject:	Dette publique \| surendettement \| taux de change réel \| nouvelle macroéconomie ouverte \| croissance économique \| Public debt \| debt overhang \| real exchange rate \| new open macro economics \| growth

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Extent:	application/pdf
Series:	Economics Papers from University Paris Dauphine.
Type of publication:	Book / Working Paper
Notes:	Published in Cahiers de recherche d'EURISCO, 2004
Classification:	F31 - Foreign Exchange ; F34 - International Lending and Debt Problems
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010706900