Central African Economic and Monetary Community (CEMAC): Selected Issues

International Monetary Fund

No 2005/390, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper on the Central African Economic and Monetary Community (CEMAC) reviews the evolution of actual and equilibrium real effective exchange rates (REER). The current level of the CEMAC REER is broadly in line with its long-term equilibrium value. The estimation approach herein is subject to certain limitations, some of which are inherent to the literature that tries to estimate the equilibrium REERs. Absolute statements about magnitudes of any possible misalignments should be avoided given the degree of model uncertainty; error bands around estimated equilibrium exchange rates may, in some cases, yield inconclusive results.

Keywords: ISCR; CR; CEMAC; exchange rate; devaluation; right; CEMAC region; CEMAC exchange rates; Tetriary GDP Deflator; REER appreciation; devaluation real GDP growth; exchange rate development; Real effective exchange rates; Commercial banks; Exports; Terms of trade; Foreign assets; Sub-Saharan Africa; West Africa (search for similar items in EconPapers)
Pages: 82
Date: 2005-11-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=18676 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2005/390

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().