Navigating post-Covid-19 economic recovery in WAEMU: A DSGE approach

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy Pub Date : 2024-09-13 DOI:10.1016/j.eap.2024.08.031

Abdoulaye Aboubacari Mohamed , Jevuks Matheus de Araujo , Alejandro C. García Cintado

引用次数: 0

Abstract

This paper evaluates the effectiveness of economic policies implemented by fiscal and monetary authorities against the Covid-19 pandemic in the West African Economic and Monetary Union (WAEMU). To that end, we employ a medium-scale DSGE model that regards WAEMU as a closed system, made up of a continuum of small open economies. Our simulations reveal that, while an ample battery of fiscal and monetary measures was deployed to counter the challenges posed by Covid-19 and support economic recovery, fiscal policy interventions proved more effective in the short run. Fiscal measures mitigated the pandemic’s economic fallout across all households, providing immediate relief and promoting a swift rebound.

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引领西非经货联盟科维德-19 事件后的经济复苏：一种 DSGE 方法

本文评估了西非经济货币联盟（WAEMU）财政和货币当局针对 Covid-19 大流行病实施的经济政策的有效性。为此，我们采用了一个中等规模的 DSGE 模型，将西非经济货币联盟视为一个封闭系统，由一系列小型开放经济体组成。我们的模拟结果表明，虽然我们采取了一系列财政和货币措施来应对 Covid-19 带来的挑战并支持经济复苏，但事实证明财政政策干预措施在短期内更为有效。财政措施减轻了大流行病对所有家庭的经济影响，提供了即时救济并促进了经济的迅速反弹。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economic Analysis and Policy ECONOMICS-

CiteScore

9.80

自引率

9.20%

发文量

231

审稿时长

93 days

期刊介绍： Economic Analysis and Policy (established 1970) publishes articles from all branches of economics with a particular focus on research, theoretical and applied, which has strong policy relevance. The journal also publishes survey articles and empirical replications on key policy issues. Authors are expected to highlight the main insights in a non-technical introduction and in the conclusion.