Inflation Dynamics in the CEMAC Region
Marcos Poplawski Ribeiro,
Darlena Tartari Schwegler and
Carlos Caceres
Authors registered in the RePEc Author Service: Marcos Poplawski-Ribeiro
No 2011/232, IMF Working Papers from International Monetary Fund
Abstract:
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.
Keywords: WP; Cameroon; price; Inflation; commodity prices; pass-through; CEMAC region; noncore inflation; Noncore inflation variability; noncore CPI index; CEMAC country; food price inflation; inflation dynamics; Consumer price indexes; Food prices; Energy prices; Global (search for similar items in EconPapers)
Pages: 29
Date: 2011-10-01
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Citations: View citations in EconPapers (4)
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Journal Article: Inflation Dynamics in the CEMAC Region (2013) 
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2011/232
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