This paper presents the literature about econometric learning and its impact on the performances of monetary policy rules in the framework of the new canonical macroeconomic model. Rational expectations which are a building block of the original model can thus be replaced by expectations based...

This paper shows that the Fed reacts to change in spreads between corporate bond yields and government bond yields over and beyond their information content on future inflation and future activity. This result, obtained in a GMM framework, is confirmed by simulation methods. Moreover, when...

This paper proposes a new nonparametric test for conditional independence, which is based on the comparison of Bernstein copula densities using the Hellinger distance. The test is easy to implement because it does not involve a weighting function in the test statistic, and it can be applied in...

In this article, we use recently developed panel causality and cointegration techniques to examine the long-run relationship between inflation and economic growth of the 8 WAEMU countries. A panel of 256 observations was therefore constituted from the IMF (WDI) and BCEAO database. Our results...

The objective of this paper is to model the key interest rate of the WAEMU zone using an approach by John Brian Taylor's equation. The econometric approach used is the Autoregressive Scaled Lag Model (ARDL) and the data used come from the BCEAO statistical table over the period from 1989 to...

The objective of this paper is to model the key interest rate of the WAEMU zone using an approach by John Brian Taylor's equation. The econometric approach used is the Autoregressive Scaled Lag Model (ARDL) and the data used come from the BCEAO statistical table over the period from 1989 to...

The objective of this paper is to model the key interest rate of the WAEMU zone using an approach by John Brian Taylor's equation. The econometric approach used is the Autoregressive Scaled Lag Model (ARDL) and the data used come from the BCEAO statistical table over the period from 1989 to...

This note takes part in the debate on the topic “a macroeconomics without LM”. It shows that, when the central bank does not control directly the interest rates on the money and financial markets, LM curve has another role to play than to determine in an endogenous way the money supply when...

Dans cet article, nous passons en revue les évolutions récentes des prix des actions et de l’immobilier ainsi que du taux de change de l’euro par rapport au dollar tout en expliquant les facteurs à l’origine de leurs fortes variations et en établissant leurs liens avec le cycle...

Résumé: Une zone-cible du taux d’inflation comporte une borne supérieure et une borne inférieure clairement annoncées par les autorités monétaires. Ces dernières assurent la crédibilité de cette zone par des interventions ponctuelles sur les marchés financiers lorsque le taux...