کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
965823 | 930893 | 2013 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable?
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable? Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable?](/preview/png/965823.png)
چکیده انگلیسی
This paper aims at explaining why the CFA countries have successfully maintained a currency union for several decades, despite failing to meet many of optimum currency area criteria. We suggest that the CFA zone, while not optimal, has been at least sustainable. We test this sustainability hypothesis by relying on the Behavioral Equilibrium Exchange Rate (BEER) approach. In particular, we assess and compare the convergence process of real exchange rates towards equilibrium for the CFA zone countries and a sample of other sub-Saharan African (SSA) countries. Our findings evidence that internal and external balances have been fostered and adjustments facilitated in the CFA zone as a whole-compared to other SSA countries-as well as in each of its member countries.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Macroeconomics - Volume 38, Part B, December 2013, Pages 428-441
Journal: Journal of Macroeconomics - Volume 38, Part B, December 2013, Pages 428-441
نویسندگان
Cécile Couharde, Issiaka Coulibaly, David Guerreiro, Valérie Mignon,