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The West African Economic and Monetary Union
			: Recent Developments and Policy Issues

The West African Economic and Monetary Union : Recent Developments and Policy Issues »

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

DOI: http://dx.doi.org/10.5089/9781557757555.084

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Following a serious deterioration of the competitive position of the WAEMU region in the 1980s and the eary 1990s, the countries took steps that have led to a significant turnaround in economic activity, a drop in...

Denmark

Denmark »

Source: Denmark : Selected Issues

Volume/Issue: 2004/241

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 August 2004

ISBN: 9781451811094

Keywords: inflation, dynamic adjustment, intermediate goods, real wages, tradable goods

This Selected Issues paper on Denmark underlies estimates of inefficiencies in the goods and labor markets. The IMF's new macroeconomic model, the global economic model (GEM), has been used to provide estimates of...

International Evidenceon Tradables and Nontradables Inflation

International Evidenceon Tradables and Nontradables Inflation »

Source: International Evidenceon Tradables and Nontradables Inflation

Volume/Issue: 1994/33

Series: IMF Working Papers

Author(s): Holger Wolf , Alberto Giovannini , and Jose De Gregorio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1994

ISBN: 9781451979282

Keywords: relative price, nontradable goods, tradable goods, inflation rates

Using 1970-85 sectoral data for the OECD we find that inflation in nontradable good exceeds inflation in tradables. We identify a demand shift towards nontradables and faster growth of total factor productivity in...

Global Imbalances

Global Imbalances »

Source: Global Imbalances : The Role of Emerging Asia

Volume/Issue: 2009/64

Series: IMF Working Papers

Author(s): Massimiliano Pisani , Pietro Cova , and Alessandro Rebucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451872118

Keywords: emerging Asia, trade deficit, non-tradable sector, exchange rate, tradable goods, intermediate goods, terms of trade, elasticity of substitution, Non-tradable Sector Non-tradable Sector,

This paper investigates the role played by emerging Asia in the emergence and evolution of the global trade imbalances. Based on simulations in a general equilibrium model of the world economy, we find that a produ...

Global Imbalances

Global Imbalances »

Source: Global Imbalances : The Role of Non-Tradabletotal Factor Productivity in Advanced Economies

Volume/Issue: 2009/63

Series: IMF Working Papers

Author(s): Alessandro Rebucci , Nicoletta Batini , Pietro Cova , and Massimiliano Pisani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451872101

Keywords: trade deficit, non-tradable sector, GEM, tfp, tradable goods, elasticity of substitution, intermediate goods, terms of trade,

This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today's global tra...

The Behavior of Nontradable Goods Prices in Europe

The Behavior of Nontradable Goods Prices in Europe »

Source: The Behavior of Nontradable Goods Prices in Europe : Evidence and Interpretation

Volume/Issue: 1993/45

Series: IMF Working Papers

Author(s): Jose De Gregorio , Thomas Krueger , and Alberto Giovannini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1993

ISBN: 9781451974263

Keywords: exchange rate, nontradable goods, real exchange rate, tradable goods, exchange rates

This paper examines the evolution of the relative price between tradable and nontradable goods in a group of European countries. A model of an open economy is used to analyze different factors that can account for...

I Overview

I Overview »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

In January 1994, seven sub-Saharan African countries—Benin, Burkina Faso, Côte dď lvoire, Mali. Niger, Senegal, and Togo—signed a treaty establishing the West African Economic and Monetary Union (WAEMU). The...

II Recent Economic Developments

II Recent Economic Developments »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

During the second half of the 1980s and in the early 1990s, a prolonged deterioration of the terms of trade, a steep increase in labor costs, and the nominal appreciation of the French franc against the U.S....

III Main Regional Policy Issues

III Main Regional Policy Issues »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Monetary Policy The BCEAO conducts monetary policy in the WAEMU at the regional level. Its basic near-term objectives are (1) to maintain the fixed exchange rate relationship between...

IV Other Regional Issues

IV Other Regional Issues »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

As a key element in the achievement of sustainable long-run growth, investment is given top priority in the development of the WAEMUď s economic policy. On average, rates of investment in the WAEMU are compa...