Uncertainty and Monetary Policy in the CAEMC zone

NOGNOU Edwige Ngniado

Cahiers du GREThA (2007-2019) from Groupe de Recherche en Economie Théorique et Appliquée (GREThA)

Abstract: This paper proposes to identify from the specificities of the CEMAC zone different sources of uncertainties that may affect monetary policies actions. We first realize a review of literature on the implementation of monetary policy under uncertainty as it is presented in the general theory. Two rules of conduct are mentioned. The certainty equivalence principle for which uncertainty has no effect on the optimal policy and the Brainard (1967) Conservatism principle that recommends more cautious and whose empirical validity is not always verified and depends on the type of uncertainty.

Keywords: Monetary; Policy; –; Uncertainty; –; CEMAC (search for similar items in EconPapers)
JEL-codes: C32 E31 E52 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:grt:wpegrt:2015-16

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