Investment of French firms remained weak in the first part of the 90's, after allowing for the sluggish economic growth. Macroeconomic models failed to explain this low level. In this work, we examine the link between micro-level data and aggregate fluctuations. We first describe the evolution...

Mesange is a medium-size quarterly macro-econometric model of the French economy (about 500 equations, three sectors). The model describes short-term Keynesian dynamics and its long-term equilibrium is driven by supply-side determinants. Its reestimation on data from the national accounts base...

Mesange is a quarterly macro-econometric model of the French economy. This model has been developed and is used jointly by INSEE and the French Treasury. This working paper presents the new version of the model. The data used in the re-estimation process are those of the National Accounts base...