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Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa

Debrun, Xavier; Pattillo, Catherine A.; Masson, Paul R. - International Monetary Fund (IMF) - 2010

This paper develops a full-fledged cost-benefit analysis of monetary integration, and applies it to the currency unions actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive from real shock asymmetries and fiscal disparities....

Persistent link: https://www.econbiz.de/10008560420

A Fiscal Stimulus and Jobless Recovery

Cantore, Cristiano; Levine, Paul; Melina, Giovanni - International Monetary Fund (IMF) - 2013

We analyse the effects of a government spending expansion in a DSGE model with Mortensen-Pissarides labour market frictions, deep habits in private and public consumption, investment adjustment costs, a constant-elasticity-of-substitution (CES) production function, and adjustments in employment...

Persistent link: https://www.econbiz.de/10010790312

Does Inflation Slow Long-Run Growth in India?

Mohaddes, Kamiar; Raissi, Mehdi - International Monetary Fund (IMF) - 2014

This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and …, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically …-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5 percent. This …

Persistent link: https://www.econbiz.de/10011142122