Inflation Dynamics In The Cemac Region PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Inflation Dynamics In The Cemac Region PDF full book. Access full book title Inflation Dynamics In The Cemac Region.
| Author | : Carlos Caceres |
| Publisher | : International Monetary Fund |
| Total Pages | : 31 |
| Release | : 2011-10-01 |
| Genre | : Business & Economics |
| ISBN | : 1463921969 |
Download Inflation Dynamics in the CEMAC Region Book in PDF, ePub and Kindle
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.
| Author | : Johanna Tiedemann |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 2024-03-08 |
| Genre | : Business & Economics |
| ISBN | : |
Download Understanding Inflation Dynamics: The Role of Global Shocks in CEMAC Book in PDF, ePub and Kindle
As in the rest of the world, inflation in CEMAC surged more quickly and persistently than expected during the 2021–23 period. This paper examines the drivers of inflation dynamics and the contribution of global shocks to inflation persistence in CEMAC. We use a Phillips curve framework combined with the local projections method. Our results confirm the prominent role of global factors in driving inflation dynamics. Global commodity food and oil price fluctuations, and shipping costs are the main factors explaining the large variability in headline inflation. Further, we find that global price shocks have sizable and persistent effects on domestic headline inflation, with differences in the magnitude and speed of pass-through. The pass-through from commodity food price fluctuations to headline inflation is higher and more persistent than that of other global price shocks, reflecting the large share of food in the consumption baskets, which makes inflation more vulnerable to direct effects of international food shocks, but also larger second-round effects.
| Author | : Gohar Minasyan |
| Publisher | : International Monetary Fund |
| Total Pages | : 38 |
| Release | : 2023-03-03 |
| Genre | : Business & Economics |
| ISBN | : |
Download Inflation Dynamics in the Western Balkans Book in PDF, ePub and Kindle
After trailing Euro Area inflation closely in the recent past, inflation in the Western Balkans has accelerated faster since early 2022 on the back of the shocks to global commodity prices, strong recovery from the pandemic, and lingering supply bottlenecks. This paper employs two complementary empirical approaches of an augmented Phillips curve and structural VAR, adapting them to the data availability and country specificities of the Western Balkans, to analyze the inflation dynamics in the region. It finds that international food prices affect not only headline but also core inflation as well as inflation expectations. Further, inflation in the Western Balkans is not just determined by foreign shocks, and domestic factors, aggregate demand shocks in particular, have a significant impact on inflation. These findings imply a possible role for policies to temporarily limit an immediate and complete pass-through of international to domestic food prices while also stressing the importance of an appropriate domestic macroeconomic policy mix to keep inflation expectations anchored and safeguard credibility in the face of high inflation persistence.
| Author | : Günter W. Beck |
| Publisher | : |
| Total Pages | : 57 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download Regional Inflation Dynamics Within and Across Euro Area Countries and a Compoarison with the US Book in PDF, ePub and Kindle
| Author | : Mr. Kangni R Kpodar |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2021-11-12 |
| Genre | : Business & Economics |
| ISBN | : 1616356154 |
Download The Distributional Implications of the Impact of Fuel Price Increases on Inflation Book in PDF, ePub and Kindle
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
| Author | : International Monetary Fund. African Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 137 |
| Release | : 2012-05-17 |
| Genre | : Business & Economics |
| ISBN | : 1616352493 |
Download Regional Economic Outlook, April 2012, Sub-Saharan Africa Book in PDF, ePub and Kindle
Sub-Saharan Africa continues to record strong economic growth, despite the weaker global economic environment. Regional output rose by 5 percent in 2011, with growth set to increase slightly in 2012, helped by still-strong commodity prices, new resource exploitation, and the improved domestic conditions that have underpinned several years of solid trend growth in the region's low-income countries. But there is variation in performance across the region, with output in middle-income countries tracking more closely the global slowdown and with some sub-regions adversely affected, at least temporarily, by drought. Threats to the outlook include the risk of intensified financial stresses in the euro area spilling over into a further slowing of the global economy and the possibility of an oil price surge triggered by rising geopolitical tensions.
| Author | : Andrew Berg |
| Publisher | : Oxford University Press |
| Total Pages | : 474 |
| Release | : 2018-04-27 |
| Genre | : Business & Economics |
| ISBN | : 019878581X |
Download Monetary Policy in Sub-Saharan Africa Book in PDF, ePub and Kindle
Low-income countries in sub-Saharan Africa present unique monetary policy challenges, from the high share of volatile food in consumption to underdeveloped financial markets. This book draws on the International Monetary Fund's research and practice to uncover how monetary policy in this region currently operates, and what changes should be made.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 134 |
| Release | : 2015-10-27 |
| Genre | : Business & Economics |
| ISBN | : 1513598406 |
Download Regional Economic Outlook, October 2015 Book in PDF, ePub and Kindle
Growth in sub-Saharan Africa has weakened after more than a decade of solid growth, although this overall outlook masks considerable variation across the region. Some countries have been negatively affected by falling prices of their main commodity exports. Oil-exporting countries, including Nigeria and Angola, have been hit hard by falling revenues and the resulting fiscal adjustments, while middle-income countries such as Ghana, South Africa, and Zambia are also facing unfavorable conditions. This October 2015 report discusses the fiscal and monetary policy adjustments necessary for these countries to adapt to the new environment. Chapter 2 looks at competitiveness in the region, analyzing the substantial trade integration that accompanied the recent period of high growth, and policy actions to nurture new sources of growth. Chapter 3 looks at the implications for the region of persistently high income and gender inequality and ways to reduce them.
| Author | : International Monetary Fund. Middle East and Central Asia Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 131 |
| Release | : 2012-11-09 |
| Genre | : Business & Economics |
| ISBN | : 1475578377 |
Download Regional Economic Outlook, November 2012, Middle East and Central Asia Book in PDF, ePub and Kindle
The outlook for the Middle East and North Africa region is mixed. Oil-importing countries are witnessing tepid growth, and the moderate recovery expected in 2013 is subject to heightened downside risks. For the Arab countries in transition, ongoing political transitions also weigh on growth. With policy buffers largely eroded, the need for action on macroeconomic stabilization and growth-oriented reforms is becoming increasingly urgent. Countries will need to put in place safety nets to protect the poor and build consensus for some difficult fiscal choices. The region’s oil exporters are expected to post solid growth in 2012, in part due to Libya’s better-than-expected postwar recovery. In the countries of the Gulf Cooperation Council, robust growth is supported by expansionary fiscal policies and accommodative monetary conditions. In the Caucasus and Central Asia, the outlook remains favorable, reflecting high oil prices that are benefiting oil and gas exporters, supportive commodity prices and remittance inflows benefiting oil and gas importers, and, for both groups, moderate direct exposure to Europe. The positive outlook provides an opportunity to strengthen policy buffers to prepare for any downside risks.
| Author | : International Monetary Fund. African Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 121 |
| Release | : 2015-04-28 |
| Genre | : Social Science |
| ISBN | : 1475595395 |
Download Regional Economic Outlook, April 2015, Sub-Saharan Africa Book in PDF, ePub and Kindle
The sharp decline in oil and other commodity prices have adversely impacted sub-Saharan Africa. Nevertheless, the region is projected to register another year of solid economic performance. In South Africa, however, growth is expected to remain lackluster, while in Guinea, Liberia, and Sierra Leone the Ebola outbreak continues to exact a heavy economic and social toll. This report also considers how sub-Saharan Africa can harness the demographic dividend from an unprecedented increase in the working age population, as well as the strength of the region's integration into global value chains.
