Does one size fit all? Modelling macroeconomic linkages in the West African Economic and Monetary Union

David Fielding, Kevin Lee, Kalvinder Shields

Research output: Contribution to journalArticlepeer-review

Abstract

We construct a structural macroeconometric model for member states of the West African Economic and Monetary Union (UEMOA). Fitting this model to annual and quarterly time-series data allows us to identify the channels through which macroeconomic innovations in one country impact on other countries in the union. We also discover the extent of heterogeneity across the member states in terms of the degree of similarity of macroeconomic transmission mechanisms. This is one important element in measuring the costs of union membership for each country.

Original languageEnglish
Pages (from-to)45-70
Number of pages26
JournalEconomic Change and Restructuring
Volume45
Issue number1-2
Early online date20 May 2011
DOIs
Publication statusPublished - Feb 2012

Keywords

  • Structural VAR
  • West African Monetary Union

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