The 15 West African countries as an optimum currency area and the role of labour mobility in the adjustment to asymmetric shocks

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F23%3A43923781" target="_blank" >RIV/62156489:43110/23:43923781 - isvavai.cz</a>

Výsledek na webu

<a href="https://doi.org/10.1016/j.iref.2023.07.087" target="_blank" >https://doi.org/10.1016/j.iref.2023.07.087</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.iref.2023.07.087" target="_blank" >10.1016/j.iref.2023.07.087</a>

Jazyk výsledku

angličtina

Název v původním jazyce

The 15 West African countries as an optimum currency area and the role of labour mobility in the adjustment to asymmetric shocks

Popis výsledku v původním jazyce

This paper assesses the nature and correlation of shocks in Economic Community of West African States (ECOWAS) countries and investigates the readiness of member countries for the formation of a monetary union. It also assesses the role of labour mobility as an adjustment mechanism to asymmetric shocks. Structural vector autoregression (SVAR) models are used in assessing the nature and correlation of shocks while cointegrated panel autoregressive distributed lag (ARDL) models are employed to examine the role of labour mobility in the adjustment process to asymmetric shocks. The results show that the ECOWAS region is characterised by asymmetric shocks. The study also finds that most countries failed to consistently meet the convergence criteria for the formation of the monetary union and that labour mobility in the region is low to act as an efficient adjustment mechanism to asymmetric shocks. It takes about 2-5 years for member countries to adjust to asymmetric shocks through labour mobility.

Název v anglickém jazyce

The 15 West African countries as an optimum currency area and the role of labour mobility in the adjustment to asymmetric shocks

Popis výsledku anglicky

This paper assesses the nature and correlation of shocks in Economic Community of West African States (ECOWAS) countries and investigates the readiness of member countries for the formation of a monetary union. It also assesses the role of labour mobility as an adjustment mechanism to asymmetric shocks. Structural vector autoregression (SVAR) models are used in assessing the nature and correlation of shocks while cointegrated panel autoregressive distributed lag (ARDL) models are employed to examine the role of labour mobility in the adjustment process to asymmetric shocks. The results show that the ECOWAS region is characterised by asymmetric shocks. The study also finds that most countries failed to consistently meet the convergence criteria for the formation of the monetary union and that labour mobility in the region is low to act as an efficient adjustment mechanism to asymmetric shocks. It takes about 2-5 years for member countries to adjust to asymmetric shocks through labour mobility.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2023

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Review of Economics &amp; Finance

ISSN

1059-0560

e-ISSN

1873-8036

Svazek periodika

88

Číslo periodika v rámci svazku

November

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

19

Strana od-do

1204-1222

Kód UT WoS článku

001052227000001

EID výsledku v databázi Scopus

2-s2.0-85166059956