An Assessment of the Exchange Rate Pass-Through in Angola and Nigeria
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Summary:
This paper estimates the exchange rate pass-through to consumer price inflation in Angola and Nigeria, with particular emphasis on the changes of the pass-through over time. Even though the two countries share smilar dependence on oil exports, this paper reveals different results. For Angola, the long-run exchange rate pass-through to prices is high, though it has weakened in recent years reflecting the de-dollarization of the economy. In Nigeria, there is no stable long-run relationship between the exchange rate and prices, and changes in the exchange rate do not have a significant pass-through effect on inflation. However, the passthrough effect on core inflation is significant.
Series:
Working Paper No. 2016/191
Subject:
Consumer price indexes Exchange rate pass-through Exchange rates Foreign exchange Import prices Inflation Prices
English
Publication Date:
September 20, 2016
ISBN/ISSN:
9781475537529/1018-5941
Stock No:
WPIEA2016191
Pages:
31
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