Tendance de l'inflation sous-jacente en RDC: une modélisation à partir de l'approche VAR structurelle

Trend of Core inflation in DRCongo: a model based on the Structural VAR approach

Pacifique Murhula

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, we estimate a SVAR model to analyze the trend of underlying inflation in the Democratic Republic of Congo and follow the identification approach of Blanchard and Quah (1989) to impose long-run restrictions. Thus, we use Congolese data on the growth rate of activity and the inflation rate from 2002Q1 to 2019Q4. Our results broadly confirm those generally found in the literature and show that the monetary shock has, in accordance with the identification constraint, almost no effect on economic activity, which tends to validate the verticality of the Phillips curve and the persistence of the negative real shock considerably explains the volatility of inflation in the Democratic Republic of Congo (DRC).

Keywords: Core Inflation; Price Stability; Monetary Policy; Economic Growth; Structural VAR (search for similar items in EconPapers)
JEL-codes: C32 E31 E52 E58 O47 (search for similar items in EconPapers)
Date: 2020-12-28, Revised 2021-01-08
New Economics Papers: this item is included in nep-fdg, nep-mac, nep-mon and nep-ore
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