A Common Currency and Exchange Rate System for the West African Monetary Zone: Is the Coronation Approach Feasible? |
Common terms and phrases
Additionally ADF test adjustment to shocks adopting a common African Monetary Zone asymmetric shocks autoregressive Bayoumi and Eichengreen budget deficits business cycle capita income central banks Choleski decomposition common currency convergence criteria currency and exchange currency union demand and monetary denotes ECOWAS Eichengreen 1992 endogenous growth theory ESCB exchange rate system external shocks factors of production fixed exchange rate Frankel Gambia 1.000 Ghana growth in real impulse response functions inflation rates Innovations Level Form logarithmic form macroeconomic meet the OCA member countries monetarist monetarist approach monetary autonomy monetary shocks monetary union Nigeria Nigeria and Sierra OCA criteria OneS.D optimum currency area percent rates and prices real per capita region relative sizes Shocks Gambia Sierra Leone significant levels single currency sizes of shocks speed of adjustment supply shocks symmetry of shocks underlying shocks unit root test vector WAMZ economies WAMZ members WASEMU West African Monetary