We discuss the relative roles played by the magnetic inversion symmetry breaking and the ferroelectric (FE) atomic displacements in the multiferroic state of YMnO 3. For these purposes we derive a realistic low-energy model, using results of first-principles electronic structure calculations and experimental parameters of the crystal structure below and above the FE transition. Then, we solve this model in the mean-field Hartree-Fock approximation. We argue that the multiferroic state in YMnO 3 has a magnetic origin, and the centrosymmetric Pbnm structure is formally sufficient for explaining the main details of the noncentrosymmetric magnetic ground state. The relativistic spin-orbit interaction lifts the degeneracy, caused by the frustrat...