Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123589
Authors: 
Asongu, Simplice A.
Year of Publication: 
2013
Series/Report no.: 
AGDI Working Paper WP/13/013
Abstract: 
We analyze the effects of monetary policy on economic activity in the proposed African monetary unions. Findings broadly show that: (1) but for financial efficiency in the EAMZ, monetary policy variables affect output neither in the short-run nor in the long-term and; (2) with the exception of financial size that impacts inflation in the EAMZ in the short-term, monetary policy variables generally have no effect on prices in the short-run. The WAMZ may not use policy instruments to offset adverse shocks to output by pursuing either an expansionary or a contractionary policy, while the EAMZ can do with the 'financial allocation efficiency' instrument. Policy implications are discussed.
Subjects: 
Monetary Policy
Banking
Inflation
Output effects
Africa
JEL: 
E51
E52
E58
E59
O55
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.