How Does Monetary Policy Affect the Poor? Evidence from the West African Economic and Monetary Union

David Fielding

No 03/11, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: The West African Economic and Monetary Union (UEMOA) has a history of monetary stability and low inflation. Nevertheless, there is substantial variation in relative prices within some UEMOA countries, in particular in the price of food relative to other elements of the retail price index (IHPC). Using monthly time-series data for cities within the region, we analyze the impact of changes in monetary policy instruments on the relative prices of components of the IHPC. We are then able to explore how the burden of monetary policy innovations is likely to be shared between the rich and poor.

Keywords: Monetary policy; poverty; Africa (search for similar items in EconPapers)
JEL-codes: E52 I39 O23 (search for similar items in EconPapers)
Date: 2003-08
New Economics Papers: this item is included in nep-cba, nep-ifn, nep-mac, nep-mon and nep-pke
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Journal Article: How Does Monetary Policy Affect the Poor? Evidence from the West African Economic and Monetary Union (2004)
Working Paper: How Does Monetary Policy Affect the Poor?: Evidence from the West African Economic and Monetary Union (2004)
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