This paper asks whether external shocks (U.S. interest rates, U.S. industrial production, U.S. stocks prices and world industrial material price) have asymmetric effects on European relative prices (real exchange rates). On 1979-1993 period, the paper finds that two groups of countries may be...

Recent studies on general equilibrium models with transaction costs show that the dynamics of the real exchange rate are necessarily nonlinear. Our contribution to the literature on nonlinear price adjustment mechanisms is treefold. First, we model the real exchange rate by a Multi-Regime...

The election of Bassirou Diomaye Faye as President of Senegal on March 24, 2024, after a turbulent electoral process, reflects the resilience of Senegal's democratic institutions. It provides an opportunity to strengthen transparent governance and combat inequality. It was the first time since...

The Alliance of Sahel States (AES), created in September 2023 by the three military governments of Mali, Niger and Burkina Faso as a counterweight to ECOWAS and the post-colonial influence of France and other Western countries, announced the creation of a confederation of its three countries in...

The Alliance of Sahel States (AES), created in September 2023 by the three military governments of Mali, Niger and Burkina Faso as a counterweight to ECOWAS and the post-colonial influence of France and other Western countries, announced the creation of a confederation of its three countries in...

As the Soviet Union broke up, Kaliningrad suddenly found itself separated from mainland Russia by new frontiers. Since then, a dramatic trade opening has occurred, and regional trade and production have undergone profound changes. Kaliningrad has experienced a major shift in its economic...

Economic integration in WAEMU is manifested among others policies, by tariffs reductions in order to reinvigorate economic and trade relationshiph between member countries. This study show that the first trade agreement establish after WAEMU creation, has contributed to reduce per capita income...