This article examines the nature of the policy-mix between monetary policy and macroprudential policy in the member countries of the Bank of Central African States (BCAS). For this, we test a monetary rule “augmented” by the financial stability objective using a regime-switching panel model over the period 2006-2018. The results show that the nature of the policy-mix between monetary policy and macroprudential policy depends on the economic situation, assessed by the evolution of BCAS’s net foreign assets.
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