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Publications (6)
Much of the research on the impact of fiscal policy shocks on macroeconomic outcomes (e.g., fiscal multipliers) uses reduced-form modelling approaches such as vector auto-regressions to obtain empirical results. In a recent study1, we used this approach to estimate fiscal multipliers for South...
Despite the frequent use of fiscal policy for stabilization purposes, there remains significant uncertainty regarding the impact of fiscal policy decisions on macroeconomic outcomes. This impact is quantified by calculating fiscal multipliers. A fiscal multiplier measures the impact of government’s...
– The Long-Run View
The twentieth anniversary of the fall of the Berlin Wall has stimulated much reflection on the political, economic and social transitions that have taken place in the past two decades. Many Central European and Baltic countries initially appeared to epitomize a successful transition to markets and...
Policy Brief
pdf
– L’Expérience Africaine Peut-Elle Inspirer la Banque Centrale Européenne
Les 14 pays membres de la zone franc en Afrique de l'Ouest et en Afrique centrale constituent - avec plusieurs décennies d'avance sur l'Union monétaire européenne - la plus importante union monétaire de l'hémisphère austral. Face à la perspective de création, à court terme, de nouvelles unions...
Policy Brief
pdf
The 14-member Franc Zone in West and Central Africa represents the largest monetary union in the southern hemisphere, predating the European Monetary Union by decades. With monetary unions planned for other parts of Africa in the near future, Macroeconomic Policy in the Franc Zone focuses on some of...
The fourteen members of the African CFA Franc Zone represent the largest monetary unions in the southern hemisphere, predating the European Monetary Union by decades. With monetary unions planned for other parts of Africa in the near future, this book focuses on some of the key challenges facing the...
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