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Inflation Dynamics in the CEMAC Region

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  • Carlos Caceres
  • Marcos Poplawski-Ribeiro
  • Darlena Tartari

Abstract

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.

Suggested Citation

  • 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.
  • Handle: RePEc:oup:jafrec:v:22:y:2013:i:2:p:239-275
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    File URL: http://hdl.handle.net/10.1093/jae/ejs035
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    Cited by:

    1. Choi, Sangyup & Furceri, Davide & Loungani, Prakash & Mishra, Saurabh & Poplawski-Ribeiro, Marcos, 2018. "Oil prices and inflation dynamics: Evidence from advanced and developing economies," Journal of International Money and Finance, Elsevier, vol. 82(C), pages 71-96.
    2. Oulatta, Moon, 2016. "A Generic Theory of Price Determination," MPRA Paper 76014, University Library of Munich, Germany.
    3. Nguyen, Anh D.M. & Dridi, Jemma & Unsal, Filiz D. & Williams, Oral H., 2017. "On the drivers of inflation in Sub-Saharan Africa," International Economics, Elsevier, vol. 151(C), pages 71-84.
    4. BIKAI, J. Landry & BATOUMEN M., Hardit & FOSSOUO, Armand, 2016. "Determinants of inflation in CEMAC: the role of money," MPRA Paper 89111, University Library of Munich, Germany.
    5. Ntita Ntita, Jean & Kazadi Ntita, François & Ntanga Ntita, Jean de Dieu, 2017. "Determinants De L'Inflation Dans Les Pays De La Communaute Economique Et Monetaire De L'Afrique Centrale, (Cemac) [Determinants Of Inflation In Central African Economic And Monetary Community (Caem," MPRA Paper 92902, University Library of Munich, Germany, revised Mar 2019.
    6. Lledó, Victor & Poplawski-Ribeiro, Marcos, 2013. "Fiscal Policy Implementation in Sub-Saharan Africa," World Development, Elsevier, vol. 46(C), pages 79-91.

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