Modelling Macroeconomic Linkages in a Monetary Union: A West African Example

David Fielding, Kevin Lee () and Kalvinder Shields

No RP2004-22, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: We construct a structural macroeconometric model for member states of the West African Economic and Monetary Union. Fitting this model to annual and quarterly time series data allows us to identify the channels through which macroeconomic innovation 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.

Keywords: Economic integration; Econometric models (Macroeconomics); Monetary policy; Econometric models (Monetary policy) (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:rp2004-22

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