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New empirics of monetary policy dynamics: evidence from the CFA franc zones
Journal article, Created By Asongu, Simplice and Published By Emerald in English language
A major lesson of the European Monetary Union crisis is that serious disequilibria in a monetary union result from arrangements not designed to be robust to a variety of shocks. With the specter of this crisis looming substantially and scarring existing monetary zones, the purpose of this paper is to complement existing literature by analyzing the effects of monetary policy on economic activity (output and prices) in the CEMAC and UEMOA CFA franc zones. ... First, compared to the CEMAC region, the UEMOA zone?s monetary authority has more pol...

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