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Inflation Dynamics in the CEMAC Region

  • Carlos Caceres
  • Marcos Poplawski-Ribeiro
  • Darlena Tartari

This paper analyses inflation dynamics in the Central African Economic and Monetary Community (CEMAC) using a constructed dataset for country-specific commodity price indices and panel cointegrated vector autoregressive models. Imported commodity price shocks are significant in explaining inflation in the region. In most CEMAC countries, the largest effect of global food and fuel prices occurs after four or five quarters in non-core inflation and then decays substantially over time. Second-round effects are significant only in Cameroon and to a lesser extent in the Republic of Congo. Copyright 2013 , Oxford University Press.

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Article provided by Centre for the Study of African Economies (CSAE) in its journal Journal of African Economies.

Volume (Year): 22 (2013)
Issue (Month): 2 (March)
Pages: 239-275

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Handle: RePEc:oup:jafrec:v:22:y:2013:i:2:p:239-275
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  1. Miguel A. Segoviano Basurto & Carlos Caceres & Vincenzo Guzzo, 2010. "Sovereign Spreads: Global Risk Aversion, Contagion or Fundamentals?," IMF Working Papers 10/120, International Monetary Fund.
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