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100   $a20121231d2012      uy             0
101 0 $aeng
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200 10$aExchange rate pass-through in Sub-Saharan African economies and its determinants$b[electronic resource] /$fIvohasina F. Razafimahefa
210   $aWashington, D.C. $cInternational Monetary Fund$d2012
215   $a1 online resource (25 p.)
225  0$aIMF working paper ;$vWP/12/141
300   $aDescription based upon print version of record.
311   $a1-4755-0398-9 
320   $aIncludes bibliographical references.
327   $aCover; Contents; I. Introduction; II. Literature Review; III. Analysis; A. Stylized Facts; B. Zero vs. Complete Pass-Through; C. Estimates of Pass-Through Elasticities; D. Determinants of Pass-Through Elasticities; E. Shift in Pass-Through Elasticities; IV. Conclusions; Tables; 1. Panel Unit Root Test; 2. Panel Cointegration Test; 3. Zero vs. Complete Pass-Through Tests (Panel AR-EC); 4. Appreciation vs. Depreciation Pass-Through; 5. Dynamic Pass-Through Elasticities; 6. Pass-Through Elasticities in Fixed vs. Flexible Regimes; 7. Pass-Through Shift in 1997; Figures
327   $a1. NEER Developments in SSA (Quarterly)2. NEER Percentage Changes in SSA (Quarterly); 3. CPI Percentage Changes in SSA (Quarterly); 4. NEER and CPI in Fixed Exchange Rate Regimes; 5. NEER and CPI in Flexible Exchange Rate Regimes; 6. Income and Pass-Through Elasticities; 7. Inflation Environment and Pass-Through Elasticities; 8. Broad Money and Pass-Through Elasticities; 9. Fiscal Balance and Pass-Through Elasticities; 10. CPIA Macro and Pass-Through Elasticities; 11. Macroeconomic and Political Developments in SSA; References
330   $aThis paper analyzes the exchange rate pass-through to domestic prices and its determinants in sub-Saharan African countries. It finds that the pass-through is incomplete. The pass-through is larger following a depreciation than after an appreciation of the local currency. The average elasticity is estimated at about 0.4. It is lower in countries with more flexible exchange rate regimes and in countries with a higher income. A low inflation environment, a prudent monetary policy, and a sustainable fiscal policy are associated with a lower pass-through. The degree of pass-through has declined in
410  0$aIMF Working Papers
606   $aForeign exchange rates$zAfrica, Sub-Saharan
606   $aEconomic policy
608   $aElectronic books.
615  0$aForeign exchange rates
615  0$aEconomic policy.
700   $aRazafimahefa$b Ivohasina F$0926471
712 02$aInternational Monetary Fund.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910452578803321
996   $aExchange rate pass-through in Sub-Saharan African economies and its determinants$92080458
997   $aUNINA