Title Recent French export performance : is there a competitiveness problem? / prepared by Alain Kabundi and Francisco Nadal De Simone

Published Washington, D.C. : International Monetary Fund, ©2009

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Description 1 online resource (73 pages) : color illustrations Series IMF working paper, 2227-8885 ; WP/09/2 IMF working paper ; WP/09/2. Contents I. Introduction; II. Data and Non-Stationarity; A. Data; B. Dealing with Non-Stationarity; III. Descriptive Part: Facts Without the Noise; IV. Analytical Part: ULCM and TOT Shocks; A. The Model and Economic Conditions for Shocks Identification; B. Estimation; V. Econometric Results; A. The 1990s Until Today; VI. Conclusion and Policy Implications; Figures; 1. Cyclical Part; 2. Trend Part; Tables; 1. Trend Exports per Destination; 2. Trend Exports per Products SITC 3. Forecast Error Variance of the Common Components of French Variables Explained by the Supply and Demand Shocks to Unit Labor Costs in Manufacturing, 1980-20064. Forecast Error Variance of the Common Components of German Variables Explained by the Supply and Demand Shocks to Unit Labor Costs in Manufacturing, 1980-2006; 5. Forecast Error Variance of the Common Components of French Variables Explained by the Supply and Demand Shocks to Terms of Trade, 1980-2006 6. Forecast Error Variance of the Common Components of German Variables Explained by the Supply and Demand Shocks to Terms of Trade, 1980-20067. Forecast Error Variance of the Common Components of French Variables Explained by the Supply and Demand Shocks to ULCM, 1993-2006; 8. Forecast Error Variance of the Common Components of German Variables Explained by the Supply and Demand Shocks to ULCM, 1993-2006; Appendices; I. The Corbae-Ouliaris Ideal Band-Pass Filter; II. The Approximate Dynamic Factor Model; Annexes; I. Macroeconomic Series; II. France and Germany: Shocks to ULCM and TOT Summary Recently, the export performance of France relative to its own past and relative to a major trading partner, Germany, deteriorated. That deterioration seems related to the geographical destination and product composition of trend exports. Faced with an increase in unit labor costs or in its terms of trade, France adjusts relatively less via price and wage changes, and more via employment changes. Given that SMIC convergence resulted in a significant increase in unit labor costs, foreign sector difficulties might be structural. Trade flows relevance and euro area policy constraints highlight the importance of structural reforms that increase markets flexibility Notes At head of title: European Department "January 2009." Bibliography Includes bibliographical references (pages 70-73) Notes Print version record Subject Exports -- France -- Econometric models Exports -- Germany -- Econometric models Competition -- France -- Econometric models Competition -- Germany -- Econometric models Competition -- Econometric models Economic history Exports -- Econometric models SUBJECT France -- Economic conditions -- 1945- -- Econometric models Germany -- Economic conditions -- 1945-1990 -- Econometric models Germany -- Economic conditions -- 1990- -- Econometric models Subject France Germany Form Electronic book Author Nadal-De Simone, Francisco, author. International Monetary Fund. European Department ISBN 1451915853 9781451915853

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