Linkages in Price Level and Inflation Rate Between Cfa Franc Zone Countries and France

August 1, 1994

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Format: Chicago

Diep Nuven. Linkages in Price Level and Inflation Rate Between Cfa Franc Zone Countries and France, (USA: International Monetary Fund, 1994) accessed November 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The price level behaviors of the CFA franc zone countries with respect to the price level of France, defined in terms of long-run convergence in price level and short-run linear dependence of their inflation rates are not homogenous and have a break-point in the mid 1980s except for Congo. This paper quantifies the evolution of the price level behavior of each CFA franc zone country from 1979 to 1993 using the cointegration and error-correction model techniques. The interzone linkages are also examined using the simple vector autoregression model.

Subject: Consumer price indexes, Econometric analysis, Foreign exchange, Inflation, Prices, Purchasing power parity, Vector autoregression

Keywords: Cfa, Cfa country, Consumer price indexes, Inflation, Inflation rate, Inflation rate time series, Integration regression, Price level, Price level behavior, Price level time series, Purchasing power parity, Time series, Vector autoregression, WP

Publication Details

Pages:

18
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1994/093
Stock No:

WPIEA0931994
ISBN:

9781451951202
ISSN:

1018-5941

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