TY - CEPII
A1 - André Lemelin
TI - Commerce et flux financiers internationaux : MIRAGE-D
IS - 2009-27
T3 - Working Papers
N2 - MIRAGE-D is a version of MIRAGE which has been modified to take into account the implications of international trade on countries’ international investment positions (IIPs). Each country or group of countries is represented in the model by a single economic agent, who distributes its wealth among assets following a three-stage portfolio allocation model. MIRAGE-D also proposes a mechanism for distributing investments among industries and countries along the lines of Tobin’s « q » theory, which is different from MIRAGE’s gravity rationale. The comparison between MIRAGE and MIRAGE-D shows that differences in the results are moderate, but nonetheless significant.
ER -