This paper brings a new lighting on the synchronization of the business cycles in the WAEMU countries. The study applies the concept of dynamic correlation to the analysis of the activity co-movement of the union. The results show the low level of synchronization of the business cycles, which...

This paper brings a new lighting on the synchronization of the business cycles in the WAEMU countries. The study applies the concept of dynamic correlation to the analysis of the activity co-movement of the union. The results show the low level of synchronization of the business cycles, which...

La littérature sur l'instabilité macroéconomique couvre un champ extrêmement vaste qui se révèle par le spectre très large de mesures utilisées pour appréhender ce phénomène. Le choix de la mesure de l'instabilité macroéconomique apparait généralement peu discuté sous le...

This paper investigates the properties of the decomposition of a time series presented in a companion paper (Lacroix, (2008)). The procedure relies upon an extension of Beveridge-Nelson methodology. We focus on its empirical implementation and show the need for additional steps in order to...

Short-term analysis is generally performed with seasonally adjusted data from which further estimation of the business cycle is performed through well-known filters (HP, Baxter-King). However, the whole procedure is not fully consistent, because seasonal adjustment and trend-cycle estimation do...

The economic situation of all the major developed countries has changed significantly during the 2007-2010 period. Yet many economic policies have been kept in place. This is true in particular of a key measure in French government policy: tax reductions on overtime hours and their exemption...

In this paper, we try to build an efficient portfolio among four possible portfolios based on the some 31 Casablanca listed shares. Our analysis concerns the risk which arises from the Markowitz mean-variance approach. Our work method will be implemented as following: first of all, we will test...

This study probes nexus between electricity consumption and GDP for the electricity community of Togo and Benin using ARDL bounds testing approach of cointegration. Long-run equilibrium has been established among these variables for Benin. The study further establishes long- and short-run...

This study examines for period going from 2002 to 2007 in the case of the Democratic Republic of Congo, the existence of a degree of pass through between the rate of exchange and inflation. The model VAR was chooses in order to clarify the relation which exists between the reactions of the...

One of the most important instruments of economic policy of the opened countries is the exchange rate. It is considered both a mean of monetary regulation and a tool of outside competitiveness. Morocco plans to adopt the floating exchange rate regime, in the end of 2009. Indeed, the question...