Browsing Monetary Economics by Title
Now showing items 1-15 of 15
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Asymmetric Shocks, Real Exchange Rate Distortions and Options for the Second Monetary Zone in West Africa
(AERC, 2020-04-27)The West African Monetary Zone (WAMZ) has continued to set targets of monetary integration for member states without success. With 2020 set as the new deadline for the attainment of monetary integration in the zone, it is ... -
Banks and Monetary Policy Transmission in the West African Economic and Monetary Union
(African Economic Research ConsortiumAfrican Economic Research Consortium, 2021-11-25)This paper aims at examining the role of banks in the transmission of the monetary policy in the West African Economic and Monetary Union (WAEMU). By using a simple theoretical model, this paper shows that improving ... -
Economic Liberalization, Monetary Policy and Money Demand in Rwanda: 1980–2005
(AERC, 2010-01-28)The objective of this study was to estimate a long and short run money demand function in the Rwandan economy. Using the Johansen approach, this paper established that there was a stable long-run equilibrium relationship ... -
The Effect of Illicit Financial Flows on Government Revenues in the West African Economic and Monetary Union Countries
(AERC, 2020-07-27)This is a study of the effect of illicit financial flows (IFFs) on government revenues in the West African Economic and Monetary Union (WAEMU) countries over the 1996–2013 period. The study found that IFFs had a negative ... -
The Effects of Monetary Policy on Prices in Malawi
(AERC, 2020-04-27)Evidence on the transmission mechanism of monetary policy is quite non-uniform, particularly across countries with different economic structures. Complications to theoretical propositions tend to arise when economies are ... -
Empirical Performances of Divisia versus Traditional Monetary Aggregates in BEAC and BCEAO
(African Economic Research consortium, 2021-01-20)The purpose of the paper is to evaluate empirical performances of Divisia relative to traditional monetary aggregates in terms of growth and inflation within the period 1992.1- 2009.4 in BEAC2 and BCEAO3 . The methodology ... -
The Exchange Rate Pass-Through to Inflation and its Implications for Monetary Policy in Cameroon and Kenya
(2020-09-03)Understanding how domestic prices adjust to the exchange rate enables us to anticipate the effects on inflation and monetary policy responses. This study examines the extent of the exchange rate pass-through to the ... -
Fiscal Policy and Monetary Integration in the ECOWAS
(African Economic Research Consortium, 2021-08-06)Those with dissenting views regarding the structure of monetary union arrangement in the ECOWAS often argue that the macroeconomic convergence criteria have hampered the ability of countries in the region to stabilize ... -
Inflation Dynamics in Zambia
(2022-04)This study assesses the drivers of overall inflation in Zambia over the period 1994q1- 2019q4. A single-error correction model is used in which the underlying determinants of both food and non-food components of inflation ... -
Inflation, Output and Monetary Policy in South Africa
(AERC, 2020-09-12)South Africa adopted inflation targeting as its monetary policy framework in February 2000. The country’s monetary authorities, however, have struggled to keep inflation within the targeted 3%-6% band. A review of the ... -
Interbank Market and Effectiveness of Monetary Policy in Malawi
(African Economic Research Consortium, 2021-09-17)The study aimed at investigating how the interbank market affects the monetary policy transmission mechanism in Malawi. To achieve that, the study analysed the nature of the relationship between excess reserves and the ... -
Interest Rate Pass-Through in Malawi: Implications for Effectiveness of Monetary Policy
(AERC, 2021-04-19)This study investigated the interest rate pass-through and its implications for monetary policy effectiveness in Malawi. Using the cost-of-funds approach and monthly data from 2009 to 2015, an autoregressive distributed ... -
Modelling Interest Rate Passthrough in Rwanda: Are the Interest Rate Adjustment Dynamics Symmetric or Asymmetric?
(African Economic Research consortium, 2020-11-03)The influence of monetary policy depends on the effectiveness of the interest rate pass-through, that is the size and the speed to which changes in the central bank policy actions are transmitted to bank retail interest ... -
Regulatory Framework and Microfinance Institutions’ Performance within the West African Monetary Union
(AERC, 2021-05-06)This study assessed the performance of microfinance institutions (MFIs) in the West African Monetary Union (UMOA) following a change in regulations and prudential ratios (capital and liquidity). Results of econometric ... -
Twin Deficits Phenomenon in the West African Economic and Monetary Union Countries: Panel Data Analysis
(AERC, 2020-04-27)For a long time, the West African Economic and Monetary Union (WAEMU) countries have been experiencing persistently high budget and current deficits. This study was undertaken to empirically test the “Twin Deficits Hypothesis” ...
