Résorption du déficit courant américain : un modèle très simple avec anticipations rationnelles

The issue of the optimal mix of demand and interest rate policies aiming at reducing the US current account deficit is addressed, both from a theoretical and a numerical point of view. The effect of the different policy mix on production, prices, public expenditures... is evaluated. A simple model of the US economy incorporating rational exchange rate expectations and with parameter values taken from existing econometric work is used. This model also permits to analyze the likely evolutions of the dollar and of the US foreign debt in case of an unchanged economic policy.