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20 A Structural Analysis of the Determinants of Inflation in the CEMAC Region

20 A Structural Analysis of the Determinants of Inflation in the CEMAC Region »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction In this chapter 1 we aim to identify the main determinants of inflation in the Communauté Economique et Monétaire de l’Afrique Centra...

Capítulo 1. Introducción y antecedentes

Capítulo 1. Introducción y antecedentes »

Source: Reforma de los subsidios a la energía : Lecciones e implicaciones

Series: Books

Author(s): Benedict Clements , David Coady , Stefania Fabrizio , Sanjeev Gupta , Trevor Alleyne , and Carlo Sdralevich

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2014

Language: Spanish

ISBN: 9781484380109

Keywords: subsidios a la energía, subsidios, energía

El aumento reciente de los precios internacionales de la energía, unido a la transferencia incompleta a los precios internos, ha dado lugar a exhortaciones a eliminar gradualmente los subsidios a la energía...

16 Do Money Targets Matter for Monetary Policy in Kenya?

16 Do Money Targets Matter for Monetary Policy in Kenya? »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction In the preceding chapter, we presented a semi-structural New Keynesian open economy model for low-income countries, and applied it to Kenya. We found that the model co...

4 Economic Fluctuations in Sub-Saharan Africa

4 Economic Fluctuations in Sub-Saharan Africa »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction In this chapter we provide (i) an overview of some of the structural features of the economies of sub-Saharan Africa (SSA) and (ii) a systematic characterization of ec...

I The West African Monetary Union and the Theory of Currency Unions

I The West African Monetary Union and the Theory of Currency Unions »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

Until 1984, the West African Monetary Union (WAMU) consisted of six West African countries—Benin, Burkina Faso, Ivory Coast, Niger, Senegal, and Togo. (Mali withdrew from the Union in 1961 and rejoined in 19...

6 Identifying the Monetary Transmission Mechanism in Sub-Saharan Africa

6 Identifying the Monetary Transmission Mechanism in Sub-Saharan Africa »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Central banks and researchers in low-income countries often use structural vector auto-regression (SVAR) models estimated on aggregate macroeconomic data to develop a...

II The Central Bank of West African States, 1962–74: Its Structure and Functions

II The Central Bank of West African States, 1962–74: Its Structure and Functions »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

The “politico-economic” framework within which the BCEAO operated changed between the time it look on the broader functions of a common central bank in 1962, and the revision of its statutes in 1974. At the...

III The Money Supply Process and the Use of Monetary Instruments, 1963–74

III The Money Supply Process and the Use of Monetary Instruments, 1963–74 »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

The BCEAO area is open to trade and payments, which sets obvious limits on how far it can have an independent monetary policy because the balance of payments outcome is almost exogenously determined by produ...

9 Implementation Errors and Incomplete Information

9 Implementation Errors and Incomplete Information »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction As discussed in Chapter 6, recent empirical work has failed to find much evidence of a monetary transmission mechanism in low-income countries, including in Africa. So...

11 Implications of Food Subsistence for Monetary Policy and Inflation

11 Implications of Food Subsistence for Monetary Policy and Inflation »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Central banks in low-income countries (LICs) have been adopting elements of inflation targeting since the mid-1990s, including an elevated focus on price stability and...