France in the Global Economy : A Structural Approximate Dynamic Factor Model Analysis /

This study identifies the main shocks that cause fluctuations in French output and their channels of transmission. It uses a large-dimensional structural approximate dynamic factor model. There are three main findings. First, common shocks, especially demand shocks, which seem to originate from the...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Nadal De Simone, Francisco
Muut tekijät: Kabundi, Alain
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2007.
Sarja:IMF Working Papers; Working Paper ; No. 2007/129
Linkit:Full text available on IMF
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100 1 |a Nadal De Simone, Francisco. 
245 1 0 |a France in the Global Economy :   |b A Structural Approximate Dynamic Factor Model Analysis /  |c Francisco Nadal De Simone, Alain Kabundi. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2007. 
300 |a 1 online resource (45 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This study identifies the main shocks that cause fluctuations in French output and their channels of transmission. It uses a large-dimensional structural approximate dynamic factor model. There are three main findings. First, common shocks, especially demand shocks, which seem to originate from the U.S., play an important role in explaining French economic activity. While international trade, relative prices, and FDI flows are the main channels of transmission, the stock market, consumer confidence, and interest rates also matter. Second, France's integration with the rest of the world has increased over time. Third, there is some tentative evidence of regional components in explaining French output fluctuations; countryspecific components also contribute. The predominance of exogenous factors affecting French output, the asymmetry in the transmission of shocks, and France's participation in a currency area, argue for making French goods, services, and labor markets as flexible as possible. 
538 |a Mode of access: Internet 
700 1 |a Kabundi, Alain. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2007/129 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2007/129/001.2007.issue-129-en.xml  |z IMF e-Library