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Linkages in Price Level and Inflation Rate Between Cfa Franc Zone Countries and France
Author:
Diep Nuven null

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Series:
IMF Working Papers
Volume/Issue:
Volume 1994: Issue 093
Language:
English
Publication Date:
01 Aug 1994
DOI:
https://doi.org/10.5089/9781451951202.001
ISBN:
9781451951202
ISSN:
1018-5941
Pages:
18
Keywords:
WP; price level; inflation rate; Cfa country; Cfa; time series; price level time series; integration regression; price level behavior; inflation rate time series; Inflation; Consumer price indexes; Purchasing power parity; Vector autoregression
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The price level behaviors of the CFA franc zone countries with respect to the price level of France, defined in terms of long-run convergence in price level and short-run linear dependence of their inflation rates are not homogenous and have a break-point in the mid 1980s except for Congo. This paper quantifies the evolution of the price level behavior of each CFA franc zone country from 1979 to 1993 using the cointegration and error-correction model techniques. The interzone linkages are also examined using the simple vector autoregression model.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund