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Improving surveillance across the CEMAC region [[electronic resource] /] / Plamen Iossifov ... [et al.]
| Improving surveillance across the CEMAC region [[electronic resource] /] / Plamen Iossifov ... [et al.] |
| Pubbl/distr/stampa | [Washington, D.C.], : International Monetary Fund, African Department, c2009 |
| Descrizione fisica | 57 p. : ill |
| Altri autori (Persone) | IossifovPlamen |
| Collana | IMF working paper |
| Soggetto topico |
Monetary policy - Africa, Central
Monetary unions - Africa, Central Banks and banking - Africa, Central |
| Soggetto genere / forma | Electronic books. |
| ISBN |
1-4623-9309-8
1-282-84492-X 9786612844928 1-4519-4202-8 1-4527-5611-2 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Record Nr. | UNINA-9910463672803321 |
| [Washington, D.C.], : International Monetary Fund, African Department, c2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Improving surveillance across the CEMAC region / / Plamen Iossifov ... [et al.]
| Improving surveillance across the CEMAC region / / Plamen Iossifov ... [et al.] |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | [Washington, D.C.], : International Monetary Fund, African Department, c2009 |
| Descrizione fisica | 57 p. : ill |
| Disciplina | 332.4;332.496751 |
| Altri autori (Persone) | IossifovPlamen |
| Collana | IMF working paper |
| Soggetto topico |
Monetary policy - Africa, Central
Monetary unions - Africa, Central Banks and banking - Africa, Central |
| ISBN |
1-4623-9309-8
1-282-84492-X 9786612844928 1-4519-4202-8 1-4527-5611-2 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Intro -- Contents -- Executive Summary -- I. Introduction -- II. Institutional Background and Features -- A. Macroeconomic Policies in the CEMAC Region -- B. Policy Coordination and Surveillance -- III. Improving the Measures of Fiscal Surveillance -- A. Fiscal Policy Objectives and Indicators -- B. Indicators of Policy Stance and Policy Change -- C. Indicators of Sustainability -- D. Implications for Fiscal Surveillance -- IV. External Shocks and the Convergence Criteria -- A. External Shocks and Growth -- B. The Efficacy of Fiscal Policies in Mitigating Shocks -- C. Implications for Regional Surveillance -- V. External Stability Considerations and Regional Surveillance -- A. Consistency of the CEMAC Fiscal Convergence Criteria with External Stability -- B. The Desirability of a Foreign Reserves Target -- C. Long-run Considerations in Regional Surveillance -- VI. Summary and Policy Implications -- Boxes -- 1. Brief Economic History of the Central African CFA Zone -- 2. Overview of the Optimum Currency Area Literature -- 3. BEAC Monetary Programming -- 4. Characteristics of Oil Revenue in the CEMAC -- 5. CEMAC Convergence Criteria -- 6. Fiscal Stance and Fiscal Impulse -- 7. The Primary Gap Measure -- 8. Constant Fiscal Expenditure Rule for Oil Producing Countries -- 9. Measuring the Impact of Exogenous Shocks on the Non-oil Economy -- 10. Measuring the Impact of Counter-Cyclical Fiscal Policies on the Non-oil Economy -- Tables -- 1. CEMAC Fiscal Developments and the Fiscal Convergence Criteria, 1998-2008 -- 2. A Comparison of CEMAC Fiscal Indicators, 2000-08 (in percent of GDP) -- 3. A Comparison of CEMAC Fiscal Indicators, 2000- -- 4. Primary Gap Measures Across the CEMAC, 1998-2008 -- 5. CEMAC Long-term Macroeconomic Assumptions -- 6. CEMAC Average Sustainable Non-oil Primary Deficit Under Different Fiscal Rules, 2009-48.
7. Real Non-oil GDP Growth in CEMAC Countries, 1980-2008 -- 8. Correlation of Real GDP Growth Among CEMAC Countries, 1980-2008 -- 9. Triggers of Recessions in CEMAC Countries, selected periods -- 10. Correlation Between Non-oil Real GDP and External Factors, 1980-2008 -- 11. Correlation Between GDP, Public Expenditure, and Non-oil Revenue -- 12. Average Share of Non-oil Revenue and Expenditure in Non-oil GDP, 1980-2008 -- 13. Variance Decomposition of Real GDP by Types of Shocks -- 14. CEMAC Share of Oil Revenue in Total Revenue and Correlation Between Fiscal and External Balances -- 15. CEMAC Currency Coverage Ratio, 2000-08 -- 16. CEMAC Gross Official Reserves, 2000-08 -- Figures -- 1. CEMAC Real and Fiscal Developments, 1969-2008 -- 2. CEMAC Terms of Trade and Balance of Payments Developments, 1969-2008 -- 3. CEMAC Net International Reserve Coverage of Imports, 1995-2008 -- 4. CEMAC Fiscal Policy and Procyclicality vis-à-vis Oil Revenue, 1980-2008 -- 5. Nominal and Real Crude Oil (Spot) Prices, 1970-2014 -- 6. CEMAC Non-oil Real GDP Growth and the Fiscal Impulse, 1995-2008 -- 7. CEMAC External Debt and the Primary Gap, 1998-2008 -- 8. CEMAC Sustainable Non-oil Primary Deficit Under Different Fiscal Rules, 2009-13 -- 9. CEMAC Sensitivity of the Sustainable Non-oil Primary Deficit to Oil Prices Under a Permanent Income Hypothesis, 2009-13 -- 10. Terms of Trade and Real Effective Exchange Rates, 1980-2008 -- 11. Impulse Response of Output to a One Standard Deviation Change in Terms of Trade and Real Effective Exchange Rate Shocks -- 12. Impulse Response of Output to a One Standard Deviation Change in Revenue and Spending Shocks -- 13. CEMAC Overall Fiscal Balance and External Current Account Balance, 1996-2008 -- 14. CEMAC Countries Overall Fiscal Balance and External Current Account Balance, 1996-2008. 15. CEMAC Foreign Assets of BEAC and Government Deposits at BEAC, 1995-2008 -- Appendix -- Linkages Between Fiscal and Monetary Policies in a Non-Renewable Resource Producer under a Fixed Exchange Rate -- References. |
| Record Nr. | UNINA-9910829093903321 |
| [Washington, D.C.], : International Monetary Fund, African Department, c2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||