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POLICY-MIX ET GAINS DE COOPERATION EN ZONE MONETAIRE HETEROGENE : Cas de la Zone Franc
[POLICY-MIX AND COOPERATION GAINS IN THE HETEROGENEOUS MONETARY AREA : The case of the Franc Zone]

Author

Listed:
  • BESSO, Christophe Raoul
  • Chameni Nembua, Célestin

Abstract

This study evaluates the effectiveness of the mechanisms of stabilization of shocks in heterogeneous monetary zone, with an application on the Franc Franc zone. The study assesses the advantages and disadvantages of budget cooperation strategies against non-cooperation. It shows that fiscal policy cooperation strategies provide a better framework for stability. The empirical evaluation of these strategies involves calculating the coordination gains. It is therefore clear from the practice of current convergence policies that these pacts are not yet effective enough to create real convergence in the Franc zone

Suggested Citation

  • BESSO, Christophe Raoul & Chameni Nembua, Célestin, 2013. "POLICY-MIX ET GAINS DE COOPERATION EN ZONE MONETAIRE HETEROGENE : Cas de la Zone Franc [POLICY-MIX AND COOPERATION GAINS IN THE HETEROGENEOUS MONETARY AREA : The case of the Franc Zone]," MPRA Paper 83146, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:83146
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    References listed on IDEAS

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    1. Désiré Avom & Daniel Gbetnkom, 2003. "La surveillance multilatérale des politiques budgétaires dans la zone Cemac : bilan et perpectives," Mondes en développement, De Boeck Université, vol. 123(3), pages 107-125.
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    More about this item

    Keywords

    convergence; cooperative fiscal policy; central Bank; monetary union;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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