Exchange Rate Regimes and Inflation and Output in Sub-Saharan CountriesBank for International Settlements, Monetary and Economic Department, 1998 - Africa, Sub-Saharan - 25 pages |
Common terms and phrases
African regions Asia BUDGDP CFA area CFA countries CFA franc countries CFA franc zone Chart coefficient on lagged consumer price inflation Côte d'Ivoire country groups credibility currency Current account balance depreciation developing dollar economic activity effective exchange rate empirical endogeneity equilibrium real exchange estimation exchange rate adjustments exchange rate changes exchange rate movements exchange rate regimes external competitiveness External debt external shocks fiscal policy fixed exchange rate flexible exchange rate foreign price francs per French Frank Smets French franc GDP and PPP Government budget balance Hodrick-Prescott filter import prices increase indicates indicates an appreciation investment Kamin and Klau Latin America log RER log Y-log Nigeria nominal exchange rate non-CFA countries OLS OLS OLS output gap PPP exchange rates rate of inflation ratio real bilateral exchange real effective exchange real exchange rate responsiveness of inflation Senegal and Togo statistically insignificant Sub-Saharan countries supply shocks terms of trade terms-of-trade shocks triggered