What determines monetary policy in the Franc Zone?: Estimating a reaction function for the BCEAO created by Anja Shortland and David Stasavage

By:

Shortland Anja [author]

Contributor(s):

Stasavage David [author]

Material type: Text

TextSeries: Journal of African Economies ; Volume 13, number 4Oxford: Oxford University Press, 2004Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

09638024

Subject(s):

Monetary policy -- CFA-Franc-Zone

LOC classification:

HC800.A1 JOU

Online resources:

Click here to access online

Abstract: This paper examines to what extent the central bank for the West African Economic and Monetary Union (BCEAO) has used interest rate policy in response to domestic economic developments. We show that while in the long run the BCEAO matches changes in French (Eurozone) interest rates one for one, in the short run it retains freedom to react to domestic economic variables, such as inflation, the output gap, its foreign exchange position and government borrowing.

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HC800.A1 JOU (Browse shelf(Opens below))	Vol. 13, no. 4 (pages 518-535)	100	Not for loan	For In house Use

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This paper examines to what extent the central bank for the West African Economic and Monetary Union (BCEAO) has used interest rate policy in response to domestic economic developments. We show that while in the long run the BCEAO matches changes in French (Eurozone) interest rates one for one, in the short run it retains freedom to react to domestic economic variables, such as inflation, the output gap, its foreign exchange position and government borrowing.

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