The devaluation of the CFA Francs in 1994 has highlighted the relevance of fiscal coordination in African monetary unions. After 1994, African monetary unions have adopted a fiscal rule which prescribes a permanent nil or positive budgetary balance. This article studies how this fiscal rule...

Since the independences, having a single currency is an official policy objective of West African countries. In April 2000, West African decisions-makers decided to accelerate the integration of the region by creating a second monetary zone in addition to the WAEMU (West African Economic and...

Since the independences, having a single currency is an official policy objective of West African countries. In April 2000, West African decisions-makers decided to accelerate the integration of the region by creating a second monetary zone in addition to the WAEMU (West African Economic and...

The devaluation of the CFA Francs in 1994 has highlighted the relevance of fiscal coordination in African monetary unions. After 1994, African monetary unions have adopted a fiscal rule which prescribes a permanent nil or positive budgetary balance. This article studies how this fiscal rule...

The economic transition in post-communist countries generated a new phenomenon: open unemployment. Since the beginning of the reforms, the official unemployment rates have been very high in the CEECs (Central and Eastern European Countries), compared to the NIS (New Independent States from the...

De 1980 à 2002, l’industrie française a perdu 1 500 000 emplois. La croissance des importations en provenance des pays émergents dans les secteurs ayant perdu le plus d’emplois suggère que les délocalisations et le commerce avec ces pays pourraient en être responsables. Dans le même...

Le cours parallèle de la naira a chuté peu de temps après la dévaluation du franc CFA en 1994. On construit un modèle théorique simple montrant comment ces deux événements sont probablement reliés, et on présente un test économétrique allant dans ce sens.

This paper gives a conceptual overview of the openness and vulnerability, sharing which in both cases respectively depends on economic policy and on structural factors, independent from policy. It focuses on openness policy, proposed to be measured by the residual of an openness function...