How Does Monetary Policy Affect the Poor? Evidence from the West African Economic and Monetary Union
AbstractThe West African Economic and Monetary Union (UEMOA) has a history of monetary stability and low inflation. Nevertheless, there is substantial variation in relative prices within some UEMOA countries, in particular in the price of food relative to other elements of the retail price index (IHPC). Using monthly time-series data for cities within the region, we analyze the impact of changes in monetary policy instruments on the relative prices of components of the IHPC. We are then able to explore how the burden of monetary policy innovations is likely to be shared between the rich and poor.
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Bibliographic InfoPaper provided by Department of Economics, University of Leicester in its series Discussion Papers in Economics with number 03/11.
Date of creation: Aug 2003
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Other versions of this item:
- David Fielding, 2004. "How Does Monetary Policy Affect the Poor? Evidence from the West African Economic and Monetary Union," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 13(4), pages 563-593, December.
- Fielding, David, 2004. "How Does Monetary Policy Affect the Poor? Evidence from the West African Economic and Monetary Union," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-08-17 (All new papers)
- NEP-CBA-2003-08-17 (Central Banking)
- NEP-IFN-2003-08-17 (International Finance)
- NEP-MAC-2003-08-17 (Macroeconomics)
- NEP-MON-2003-08-17 (Monetary Economics)
- NEP-PKE-2003-08-17 (Post Keynesian Economics)
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- Coleman, Simeon, 2012. "Where Does the Axe Fall? Inflation Dynamics and Poverty Rates: Regional and Sectoral Evidence for Ghana," World Development, Elsevier, vol. 40(12), pages 2454-2467.
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- Alagidede, Paul & Coleman, Simeon & Cuestas, Juan Carlos, 2012. "Inflationary shocks and common economic trends: Implications for West African monetary union membership," Journal of Policy Modeling, Elsevier, vol. 34(3), pages 460-475.
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