This paper intends to watch and teach the macroeconomic processes with a joint view on monetary policy. It endorses the main ideas expressed by the three equations model of the New Neo-Keynesian Synthesis and to which it adds one loanable funds equation.This widening to credit questions has...

The purpose of this paper is to analyze the dynamic response of a small subset of variables to exchange rate shocks by using a new method based on a set of theory-consistent sign restrictions for the purpose of identifying shocks over time (1995Q1–2019Q1) in the Moroccan economy. It is...

Since the beginning of 2020, the global economy and, in particular, the DRC’s, have been shaken by the effects of Covid-19 pandemic. However, this pandemic has affected countries asymmetrically. In advanced economies, the slowdown of GDP is accompanied by a decline in main raw materials prices...

In an uncertain economic environment, long-term interest rates appear to be highly volatile and their sensitivity towards short-term interest rates appears to be still ambiguous. The aim of this work is to analyze this relationship, and to evaluate the impact of short-term interest rate on...

Inspired of the decrease of the prices of oil between January 2014 and January 2016, this article wonders about the capacity of resilience of the congolese economy in relation to the decrease of the mining product prices noticed since June 2015. The econometric analysis teaches that that a...

This study evaluates the macroeconomic vulnerability of the Franc zone on three main aspects: frequency, exposure and resilience to shocks, starting from 1980 to 2010. It is therefore clear that the franc zone is exposed to external trade shocks is undiversified and highly heterogeneous. These...

Real gross domestic product (GDP) fails to account for the trading gains and losses that result from changes in the terms of trade and in the real exchange rate (the price of tradables relative to the price of nontradables). Canada has enjoyed vast improvements in its terms of trade over recent...

L'objectif de ce papier est d'évaluer la capacité de différents types de chocs fiscaux à améliorer l'explication des fluctuations de l'économie française considérée comme une petite économie ouverte. Ainsi, nous développons un modèle d'équilibre général intertemporel stochastique...

This study investigates the pricing behaviour of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms. The results, robust across countries, show that firms operate in monopolistically competitive markets, where...

The aim of this paper is to check whether the economic and monetary policies developed under the CFA area create co-movements of business cycles of member countries. Indeed, the synchronization of business cycles is a result which can help to appreciate the degree of regional integration. Using...