IDEAS home Printed from https://ideas.repec.org/p/arx/papers/1509.06504.html
   My bibliography  Save this paper

Les indicateus avanc\'es de l'inflation en RDCongo

Author

Listed:
  • Henry Ngongo

    (UEA)

Abstract

This study aims to identify the leading of inflation indicators of monetary policy in DRC. The results reveal that the most relevant inflation indicators usually come from the monetary origin than the real sector. Variance decomposition analyzes place in the foreground the rate of exchange, the money supply and the public consumption like the most relevant indicators. In order to achieve its goal of price stability and to support a strong economic growth, the intermediate objective of the Central Bank baseded on the controle of the money supply seems to be less relevant. Relates to a high level of the dollarization, the central bank will be able to adopt either the strategy of nominal anchoring of the rate of exchange, this calls the return of the fixed exchange regime or to adopt a strategy of inflation targeting is to restore the credibility of the monetary policy

Suggested Citation

  • Henry Ngongo, 2015. "Les indicateus avanc\'es de l'inflation en RDCongo," Papers 1509.06504, arXiv.org.
    • Handle: RePEc:arx:papers:1509.06504
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/1509.06504
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jean-Pierre Allegret & Jean-François Goux, 2003. "Trois essais sur les anticipations d'inflation," Post-Print halshs-00178539, HAL.
    2. Ludovic Aubert, 2003. "Les indices des conditions monetaires," Economie Internationale, CEPII research center, issue 96, pages 63-102.
    3. Grégory Levieuge, 2003. "Politique monétaire avec information de marché application au spread de taux," Revue d'économie politique, Dalloz, vol. 113(2), pages 233-254.
    4. Bennett T. McCallum & Edward Nelson, 2005. "Targeting versus instrument rules for monetary policy," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 225-245.
    5. Jean-Pierre Allégret & Jean-François Goux, 2003. "Trois essais sur les anticipations d'inflation - Three essays on inflation expectation," Working Papers 0301, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    6. Jean-Jacques Durand & Nathalie Payelle, 1998. "Règles de politique monétaire et objectif de PIB nominal. Application au cas français," Revue Économique, Programme National Persée, vol. 49(3), pages 665-675.
    7. Sharon Kozicki, 2001. "Why do central banks monitor so many inflation indicators?," Economic Review, Federal Reserve Bank of Kansas City, vol. 86(Q III), pages 5-42.
    8. Samuel Guérineau & Sylviane Guillaumont Jeanneney, 2003. "Politique de change et inflation en Chine," Revue d'économie politique, Dalloz, vol. 113(2), pages 199-232.
    9. Jean-Paul Pollin, 2005. "Théorie de la politique monétaire. Esquisses d'une refondation," Revue économique, Presses de Sciences-Po, vol. 56(3), pages 507-539.
    10. Josef Baumgartner & Mr. Ramana Ramaswamy, 1996. "Inflation Targeting in the United Kingdom: Information Content of Financial and Monetary Variables," IMF Working Papers 1996/044, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    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. Henry Muganza Ngongo, 2015. "Les indicateus avancés de l'inflation en RDCongo," Post-Print hal-01202369, HAL.
    2. Kenneth N Kuttner, 2004. "A Snapshot of Inflation Targeting in its Adolescence," RBA Annual Conference Volume (Discontinued), in: Christopher Kent & Simon Guttmann (ed.),The Future of Inflation Targeting, Reserve Bank of Australia.
    3. Maria Soledad Martinez Peria, 2002. "The Impact of Banking Crises on Money Demand and Price Stability," IMF Staff Papers, Palgrave Macmillan, vol. 49(3), pages 1-1.
    4. Levine, Paul & Pearlman, Joseph & Pierse, Richard, 2008. "Linear-quadratic approximation, external habit and targeting rules," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3315-3349, October.
    5. Ben S. Bernanke & Alan S. Blinder & Bennett T. McCallum, 2005. "Panel discussion I: what have we learned since October 1979?," Review, Federal Reserve Bank of St. Louis, vol. 87(Mar), pages 277-292.
    6. Sharon Kozicki & Peter A. Tinsley, 2002. "Alternative sources of the lag dynamics of inflation," Research Working Paper RWP 02-12, Federal Reserve Bank of Kansas City.
    7. James Bullard & Eric Schaling, 2009. "Monetary Policy, Determinacy, and Learnability in a Two‐Block World Economy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(8), pages 1585-1612, December.
    8. repec:hal:spmain:info:hdl:2441/5221 is not listed on IDEAS
    9. Gilles, Philippe & Huchet, Nicolas & Gauvin, Marie-Sophie, 2012. "Politique monétaire, choix de portefeuille du secteur bancaire et canal de la prise de risque," L'Actualité Economique, Société Canadienne de Science Economique, vol. 88(2), pages 175-196, Juin.
    10. Glenn Otto & Graham Voss, 2009. "Strict and Flexible Inflation Forecast Targets: An Empirical Investigation," Department Discussion Papers 0902, Department of Economics, University of Victoria.
    11. Wolfram Berger, 2008. "Monetary Policy Rules for a Small Open Economy," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 37(1), pages 1-30, February.
    12. Lars E O Svensson, 2005. "Monetary Policy with Judgment: Forecast Targeting," International Journal of Central Banking, International Journal of Central Banking, vol. 1(1), May.
    13. Dominique Pépin, 2010. "L'évaluation du prix des actions par les fondamentaux : analyse du marché français," Economie & Prévision, La Documentation Française, vol. 0(4), pages 83-98.
    14. Javier G. Gómez-Pineda, 2017. "Volatility Spillovers and Systemic Risk Across Economies: Evidence from a Global Semi-Structural Model," Borradores de Economia 1011, Banco de la Republica de Colombia.
    15. Richard T. Froyen & Alfred Guender, 2011. "Instrument Versus Target Rules As Specifications of Optimal Monetary Policy: What are the Issues, If Any?," Working Papers in Economics 11/20, University of Canterbury, Department of Economics and Finance.
    16. Lars E.O. Svensson, 2004. "Targeting Rules vs. Instrument Rules for Monetary Policy: What is Wrong with McCallum and Nelson?," NBER Working Papers 10747, National Bureau of Economic Research, Inc.
    17. Yu-chin Chen & Pisut Kulthanavit, 2008. "Adaptive Learning and Monetary Policy: Lessons from Japan," Working Papers UWEC-2008-12-P, University of Washington, Department of Economics, revised Oct 2008.
    18. Ancil Crayton, 2018. "Central Bank Communication and the Yield Curve: A Semi-Automatic Approach using Non-Negative Matrix Factorization," Papers 1809.08718, arXiv.org.
    19. Bruno Ducoudre, 2008. "Structure par terme des taux d’intérêt et anticipations de la politique économique," Sciences Po publications info:hdl:2441/5221, Sciences Po.
    20. Blake, Andrew P., 2012. "Determining optimal monetary speed limits," Economics Letters, Elsevier, vol. 116(2), pages 269-271.
    21. John B. Taylor, 2012. "The Dual Nature of Forecast Targeting and Instrument Rules," Book Chapters, in: Evan F. Koenig & Robert Leeson & George A. Kahn (ed.), The Taylor Rule and the Transformation of Monetary Policy, chapter 10, Hoover Institution, Stanford University.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:arx:papers:1509.06504. 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: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    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.