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Inflation Dynamics in the CEMAC Region, Marcos Poplawski Ribeiro, Darlena Tartari Schwegler, Carlos Caceres

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 (VAR) models. Imported commodity price shocks are significant in explaining inflation in the region. Governments are another driving force of inflation dynamics mainly through controlled prices and the role of capital expenditure in domestic activity. In most CEMAC countries, the largest effect of global food and fuel prices occurs after four or five quarters in noncore 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
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Background; A. The economic and monetary community of central africa; B. The central bank; III. Data and estimation methodology; A. Construction of the dataset; B. Methodology and estimation model; IV. Empirical results; A. The effects of global food and energy prices on noncore inflation; B. The impact of noncore inflation and economic activity on core inflation; V. Policy implications; VI. Conclusions; Appendix; References; Footnotes
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (51 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9786613865755

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