IDEAS home Printed from
MyIDEAS: Login to save this paper or follow this series

Politiques macroéconomiques et stabilisation des chocs dans la zone UEMOA

  • Cheikh Tidiane Ndiaye


    (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR7322 - Université d'Orléans)

  • Mamadou Abdoulaye Konte


    (GERSEG - Groupe de Recherche en Economique et de Gestion - Université Gaston Berger de Saint-Louis (Sénégal))

Registered author(s):

    Les chocs semblent être l'une des principales sources de réactivité des politiques macroéconomiques dans la zone UEMOA. L'objet de cet article est d'évaluer la capacité de résilience de ces politiques. Nous utilisons pour cela un modèle VAR Bayésien en panel susceptible d'évaluer dans quel cadre les chocs influencent ces politiques macroéconomiques de stabilisation. Les résultats suggèrent que les politiques budgétaires nationales s'ajustent aux chocs avec une marge de manœuvre très limitée tandis que l'efficacité relative de la politique monétaire se manifeste à travers le degré de réaction face aux chocs affectant l'inflation, le taux d'importation et les termes de l'échange.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Paper provided by HAL in its series Working Papers with number halshs-00830595.

    in new window

    Date of creation: 23 Nov 2012
    Date of revision:
    Handle: RePEc:hal:wpaper:halshs-00830595
    Note: View the original document on HAL open archive server:
    Contact details of provider: Web page:

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Philip R. Lane, 2002. "The Cyclical Behaviour of Fiscal Policy: Evidence from the OECD," Trinity Economics Papers 20022, Trinity College Dublin, Department of Economics.
    2. Cushman, David O. & Zha, Tao, 1997. "Identifying monetary policy in a small open economy under flexible exchange rates," Journal of Monetary Economics, Elsevier, vol. 39(3), pages 433-448, August.
    3. Richard Clarida & Jordi Gali & Mark Gertler, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," NBER Working Papers 7147, National Bureau of Economic Research, Inc.
    4. Graciela L. Kaminsky & Carmen M. Reinhart & Carlos A. Vegh, 2004. "When it Rains, it Pours: Procyclical Capital Flows and Macroeconomic Policies," NBER Working Papers 10780, National Bureau of Economic Research, Inc.
    5. Christina D. Romer & David H. Romer, 1994. "What Ends Recessions?," NBER Working Papers 4765, National Bureau of Economic Research, Inc.
      • Christina D. Romer & David H. Romer, 1994. "What Ends Recessions?," NBER Chapters, in: NBER Macroeconomics Annual 1994, Volume 9, pages 13-80 National Bureau of Economic Research, Inc.
    6. Leith, Campbell, 2004. "Comments on "Monetary and fiscal interactions in open economies"," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 349-352, June.
    7. Demirel, Ufuk Devrim, 2010. "Macroeconomic stabilization in developing economies: Are optimal policies procyclical?," European Economic Review, Elsevier, vol. 54(3), pages 409-428, April.
    8. Alan J. Auerbach, 2003. "Fiscal Policy, Past and Present," NBER Working Papers 10023, National Bureau of Economic Research, Inc.
    9. Houssa, Romain, 2008. "Monetary union in West Africa and asymmetric shocks: A dynamic structural factor model approach," Journal of Development Economics, Elsevier, vol. 85(1-2), pages 319-347, February.
    10. Anton Muscatelli & Patrizio Tirelli & Carmine Trecroci, 2003. "Fiscal and Monetary Policy Interactions: Empirical Evidence and Optimal Policy Using a Structural New Keynesian Model," CESifo Working Paper Series 1060, CESifo Group Munich.
    11. Paul R. Masson & Ousmane Dore, 2002. "Experience with Budgetary Convergence in the WAEMU," IMF Working Papers 02/108, International Monetary Fund.
    12. Valles, Javier, 2004. "Comments on "Monetary and fiscal interactions in open economies"," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 353-356, June.
    13. Taylor, John B., 1993. "Discretion versus policy rules in practice," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 195-214, December.
    14. Galí, Jordi & Perotti, Roberto, 2003. "Fiscal Policy and Monetary Integration in Europe," CEPR Discussion Papers 3933, C.E.P.R. Discussion Papers.
    15. Sven Jari Stehn & Daniel Leigh, 2009. "Fiscal and Monetary Policy During Downturns: Evidence From the G7," IMF Working Papers 09/50, International Monetary Fund.
    16. Enrique Flores & Daniel Leigh & Benedict J. Clements, 2009. "Monetary and Fiscal Policy Options for Dealing with External Shocks - Insights from the GIMF for Colombia," IMF Working Papers 09/59, International Monetary Fund.
    17. Talvi, Ernesto & Vegh, Carlos A., 2005. "Tax base variability and procyclical fiscal policy in developing countries," Journal of Development Economics, Elsevier, vol. 78(1), pages 156-190, October.
    18. Jordi GalÌ & Roberto Perotti, 2003. "Fiscal policy and monetary integration in Europe," Economic Policy, CEPR;CES;MSH, vol. 18(37), pages 533-572, October.
    19. Robert A. Mundell, 1962. "The Appropriate Use of Monetary and Fiscal Policy for Internal and External Stability," IMF Staff Papers, Palgrave Macmillan, vol. 9(1), pages 70-79, March.
    20. Carmignani, Fabrizio, 2010. "Cyclical fiscal policy in Africa," Journal of Policy Modeling, Elsevier, vol. 32(2), pages 254-267, March.
    21. Ghura, Dhaneshwar, 1995. "Effects of macroeconomic policies on income growth, inflation, and output growth in Sub-Saharan Africa," Journal of Policy Modeling, Elsevier, vol. 17(4), pages 367-395, August.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:halshs-00830595. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.