Eco-currency: Proposition of a monetary policy design for a unitary currency program of a frailty economic zone.

Tweneboah Senzu, Emmanuel (2021): Eco-currency: Proposition of a monetary policy design for a unitary currency program of a frailty economic zone. Published in: Social Science Research Network , Vol. X1, No. 2(2021) (28 February 2021): pp. 1-23.

Abstract

Acknowledging the frailty nature of the Economic Zone of West Africa market and its financial system has contributed to strong spirited pessimistic defence by many scholars against the acceptance and uphold to the idea of a single currency union for member States using the ‘Eco’ as the currency brand label, with the argument on a major reason as lack of clarity to the supposed model for the proposed ECOWAS Central Bank to administer monetary policy that addresses' member countries economic welfare, expectations, and guarantees for a competitive trade advantage, which this very chapter establishes a policy theory with its model application ingrained in Natural Rate of Interest as a policy indicator for Eco-currency management of the Economic Zone of West Africa, adopting the Kalman Filter method for the empirical basis.

• Item Type: MPRA Paper
• Language: English
• Keywords: Monetary economics, policy, Eco-currency, Kalman Filter, Wicksellian, Fragile economy
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E43 - Interest Rates: Determination, Term Structure, and Effects; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E47 - Forecasting and Simulation: Models and Applications; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy

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