The usefulness of SVARs for developing empirically plausible models is actually subject to controversies in macroeconomics. We propose a two-step SVARs-based procedure which consistently estimates the effect of permanent technology shocks on aggregate variables. Simulation experiments from a...

The paper introduces habit persistence in consumption decisions in an infinitely-lived agents monetary model where money enters in the utility of the agent. In this case, we show that the equilibrium is saddle path whereas Auray, Collard and Fève [2004] showed that the interplay between habit...

[fre] Une évaluation économétrique de la soutenabilité de la dette extérieure des pays en développement. . Cet article propose et met en œuvre une stratégie de tests visant à déterminer si un pays est à même de soutenir son déficit extérieur. Partant de restrictions sur la...