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Real Exchange Rate Misalignment in the cfa franc zone after the cfa franc devaluation of January 1994

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  • Kuikeu, Oscar

Abstract

In cfa franc zone, the exchange rate was devalued, in January 1994, in order to deal with the major macroeconomic imbalances that have affected the members during the 1980 decade. Thus, the aim of this paper is to assess the degree of over/undervaluation (namely real exchange rate misalignment) of the currency in the cfa franc zone since the cfa franc devaluation of January 1994.

Suggested Citation

  • Kuikeu, Oscar, 2013. "Real Exchange Rate Misalignment in the cfa franc zone after the cfa franc devaluation of January 1994," MPRA Paper 52673, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:52673
    as

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    File URL: https://mpra.ub.uni-muenchen.de/52673/1/MPRA_paper_52673.pdf
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    References listed on IDEAS

    as
    1. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    2. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(S1), pages 653-670, November.
    3. repec:bla:obuest:v:61:y:1999:i:0:p:653-70 is not listed on IDEAS
    4. MacDonald, Ronald, 1998. "What determines real exchange rates?: The long and the short of it," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 8(2), pages 117-153, June.
    5. Harris, Richard D. F. & Tzavalis, Elias, 1999. "Inference for unit roots in dynamic panels where the time dimension is fixed," Journal of Econometrics, Elsevier, vol. 91(2), pages 201-226, August.
    6. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, vol. 108(1), pages 1-24, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    equilibrium real exchange rate; cfa franc zone; cointegration; panel;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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