Investigating the Sources of Asymmetric Growth and Inflation Shocks in the WAEMU Region
Date
2021-08
Authors
Tadenyo, Yao Dossa
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Abstract
Empirical research has already established the existence of asymmetric shocks
between the countries of the West African Economic and Monetary Union (WAEMU).
The current study re-examines this issue by attempting to answer the following
question: are the asymmetries within the WAEMU region related to country specific
shocks or do they stem from heterogeneous responses to common shocks?
To answer this question, the study relied on the estimation of a bivariate
structural VAR model for each WAEMU member country using annual data from