IDEAS home Printed from https://ideas.repec.org/a/taf/applec/v33y2001i8p1077-1082.html
   My bibliography  Save this article

New evidence on the output-inflation trade-off from developing economies: the case of the CFA Franc zone

Author

Listed:
  • Gianluigi Giorgioni

Abstract

This aim of this paper is to give a contribution to the debate on whether output-inflation trade-offs are negatively influenced by the mean of inflation (as postulated by new-Keynesians) or by the variability of inflation (as postulated by neo-classical economists). To remove any concerns about the arbitrariness of the choice of the sample, the analysis will focus on a group of countries belonging to the same currency union, the Franc Zone. The results do not provide conclusive evidence on either theory as it was found that there existed a negative relation between the output-inflation trade-offs and the mean of inflation on the one hand, and the variability of inflation, on the other.

Suggested Citation

  • Gianluigi Giorgioni, 2001. "New evidence on the output-inflation trade-off from developing economies: the case of the CFA Franc zone," Applied Economics, Taylor & Francis Journals, vol. 33(8), pages 1077-1082.
    • Handle: RePEc:taf:applec:v:33:y:2001:i:8:p:1077-1082
    DOI: 10.1080/00036840010003267
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840010003267
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00036840010003267?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Devarajan, Shantayanan & Rodrik, Dani, 1991. "Do the Benefits of Exchange Rates Outweigh Their Cost? The Franc Zone in Africa," CEPR Discussion Papers 561, C.E.P.R. Discussion Papers.
    2. Shantayanan Devarajan & Dani Rodrik, 1991. "Do the Benefits of Fixed Exchange Rates Outweigh Their Costs? The Franc Zone in Africa," NBER Working Papers 3727, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fendel, Ralf & Rülke, Jan-Christoph, 2012. "Some international evidence on the Lucas Supply Function," Economics Letters, Elsevier, vol. 114(2), pages 157-160.
    2. Abbott, Brant & Martínez, Cristina, 2008. "An updated assessment of the Lucas supply curve and the inflation-output trade-off," Economics Letters, Elsevier, vol. 101(3), pages 199-201, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Couharde, Cécile & Coulibaly, Issiaka & Guerreiro, David & Mignon, Valérie, 2013. "Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable?," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 428-441.
    2. Tornell, Aaron & Velasco, Andres, 2000. "Fixed versus flexible exchange rates: Which provides more fiscal discipline?," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 399-436, April.
    3. Qureshi, Mahvash Saeed & Tsangarides, Charalambos G., 2012. "Hard or Soft Pegs? Choice of Exchange Rate Regime and Trade in Africa," World Development, Elsevier, vol. 40(4), pages 667-680.
    4. Tomell, Aaron & Velasco, Andrés, 1994. "Fiscal Discipline and the Choice of Exchange Rate Regime," IDB Publications (Working Papers) 1144, Inter-American Development Bank.
    5. Mahvash S Qureshi & Mr. Charalambos G Tsangarides, 2006. "What is Fuzzy About Clustering in West Africa?," IMF Working Papers 2006/090, International Monetary Fund.
    6. Rama,Martin G., 1998. "Wage misalignment in CFA countries: are labor market policies to blame?," Policy Research Working Paper Series 1873, The World Bank.
    7. Sebastian Edwards, 1992. "Exchange Rates as Nominal Anchors," NBER Working Papers 4246, National Bureau of Economic Research, Inc.
    8. Marcelin W. Diagne, 2019. "The West African Economic and Monetary Union: Optimality Revisited," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 17(3), pages 541-549, September.
    9. Fielding, David & Shields, Kalvinder, 2001. "Modelling macroeconomic shocks in the CFA Franc Zone," Journal of Development Economics, Elsevier, vol. 66(1), pages 199-223, October.
    10. Aaron Tornell & Andrés Velasco, 1994. "La disciplina fiscal y la elección de régimen cambiario," Research Department Publications 4005, Inter-American Development Bank, Research Department.
    11. Marc Klau, 1998. "Exchange rate regimes and inflation and output in Sub-Saharan countries," BIS Working Papers 53, Bank for International Settlements.
    12. Jeffrey A. Frankel, 1993. "Monetary regime choices for a semi-open country," Pacific Basin Working Paper Series 93-02, Federal Reserve Bank of San Francisco.
    13. Tamgac, Unay, 2013. "Duration of fixed exchange rate regimes in emerging economies," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 439-467.
    14. Tornell, Aaron & Velasco, Andres, 1995. "Fiscal discipline and the choice of exchange rate regime," European Economic Review, Elsevier, vol. 39(3-4), pages 759-770, April.
    15. Magazzino, Cosimo, 2012. "Revenue and expenditure nexus: A case study of ECOWAS," Economics Discussion Papers 2012-57, Kiel Institute for the World Economy (IfW Kiel).
    16. Aaron Tornell & Andrés Velasco, 1994. "Fiscal Discipline and the Choice of Exchange Rate Regime," Research Department Publications 4004, Inter-American Development Bank, Research Department.
    17. Giorgioni, Gianluigi & Holden, Ken, 2002. "The crisis of the CFA Franc zone: the case of Cote d'Ivoire," Economic Modelling, Elsevier, vol. 19(4), pages 531-564, August.
    18. Zhao, Xiaodan & Kim, Yoonbai, 2009. "Is the CFA Franc Zone an Optimum Currency Area?," World Development, Elsevier, vol. 37(12), pages 1877-1886, December.
    19. Tsangarides, Charalambos G. & Qureshi, Mahvash Saeed, 2008. "Monetary Union Membership in West Africa: A Cluster Analysis," World Development, Elsevier, vol. 36(7), pages 1261-1279, July.
    20. Saif Al-Abri, Almukhtar, 2014. "How does terms-of-trade behavior shape international financial integration in primary-commodity exporting economies?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 33(C), pages 335-353.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:applec:v:33:y:2001:i:8:p:1077-1082. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEC20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.