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Autore: |
Abdih Y (Yasser)
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Titolo: |
FEER for the CFA Franc / / Yasser Abdih and Charalambos G. Tsangarides
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Pubblicazione: | [Washington D.C.], : International Monetary Fund, c2006 |
Edizione: | 1st ed. |
Descrizione fisica: | 1 online resource (42 p.) |
Soggetto topico: | Foreign exchange rates - French franc area |
Franc, CFA | |
Monetary unions - Africa, French-speaking | |
Altri autori: |
TsangaridesCharalambos G
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Note generali: | "October 2006." |
Nota di bibliografia: | Includes bibliographical references (p.37-40). |
Nota di contenuto: | ""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""III. METHODOLOGY AND DATA""; ""IV. EMPIRICAL RESULTS""; ""V. CONCLUSION""; ""REFERENCES"" |
Sommario/riassunto: | We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to investigate the behavior of the real effective exchange rates of the two monetary unions of the CFA franc zone (CEMAC and WAEMU) vis-à-vis their long-run equilibrium paths. For both CEMAC and WAEMU, our results indicate that: (i) the fundamentals account for most of the fluctuation of the real effective exchange rates, with increases in the terms of trade, government consumption, and productivity improvements causing the exchange rate to appreciate, and increases in investment and openness leading to a depreciation; (ii) at end-2005 both the CEMAC and WAEMU real effective exchange rates were broadly in line with their long-run equilibrium values; and (iii) following a shock, reversion to equilibrium is twice as fast in WAEMU than in CEMAC. |
Titolo autorizzato: | FEER for the CFA Franc ![]() |
ISBN: | 1-4623-9318-7 |
1-4527-7838-8 | |
1-282-44791-2 | |
1-4519-0949-7 | |
9786613821119 | |
Formato: | Materiale a stampa ![]() |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910814667303321 |
Lo trovi qui: | Univ. Federico II |
Opac: | Controlla la disponibilità qui |