Inflation Uncertainty and Relative Price Variability in WAEMU Countries
AbstractUsing a consistent dataset and methodology for all eight member countries of the West African Economic and Monetary Union (WAEMU) from 1994 to 2009, this paper provides evidence of the two major channels for real effects of inflation: inflation uncertainty and relative price variability. In line with theory and most evidence for advanced and emerging market economies, higher inflation increases inflation uncertainty and relative price variability in all WAEMU countries. However, the pattern, magnitude and timing of these two channels vary considerably by country. The findings raise several policy issues for future research.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 11/59.
Date of creation: 01 Mar 2011
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This paper has been announced in the following NEP Reports:
- NEP-AFR-2011-04-02 (Africa)
- NEP-ALL-2011-04-02 (All new papers)
- NEP-CBA-2011-04-02 (Central Banking)
- NEP-MAC-2011-04-02 (Macroeconomics)
- NEP-MON-2011-04-02 (Monetary Economics)
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- Carlos Caceres & Marcos Poplawski-Ribeiro & Darlena Tartari, 2013.
"Inflation Dynamics in the CEMAC Region,"
Journal of African Economies,
Centre for the Study of African Economies (CSAE), vol. 22(2), pages 239-275, March.
- Bossone, Biagio, 2014. "Liquidity and capital under uncertainty and changing market sentiment: A simple analysis," Review of Financial Economics, Elsevier, vol. 23(2), pages 98-105.
- Cheikh Tidiane Ndiaye & Mamadou Abdoulaye Konte, 2012. "Incertitude de l'inflation et croissance économique : le cas de l'UEMOA," Working Papers halshs-00828156, HAL.
- Magazzino, Cosimo, 2012. "Revenue and expenditure nexus: A case study of ECOWAS," Economics Discussion Papers 2012-57, Kiel Institute for the World Economy.
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