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Pré-publication, Document de travail

Monetary, Financial and Fiscal Stability in the East African Community: Ready for a Monetary Union?

Abstract : We examine prospects for a monetary union in the East African Community (EAC) by developing a stylized model of policymakers' decision problem that allows for uncertain benefits derived from monetary,financial and fiscal stability, and then calibrating the model for the EAC for the period 2003-2010. When policymakers properly allow for uncertainty, none of the countries wants to pursue a monetary union based on either monetary or financial stability grounds, and only Rwanda might favor it on fiscal stability grounds; we argue that robust institutional arrangements assuring substantial improvements in monetary, financial and fiscal stability are needed to compensate.
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https://hal-unilim.archives-ouvertes.fr/hal-00916699
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Dernière modification le : vendredi 23 octobre 2020 - 16:48:49
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  • HAL Id : hal-00916699, version 1

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Laetitia Lepetit, Clovis Rugemintwari, Frank Strobel. Monetary, Financial and Fiscal Stability in the East African Community: Ready for a Monetary Union?. 2012. ⟨hal-00916699⟩

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