Exchange Rate Assessment For Sub Saharan Economies
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| Author | : Burcu Aydin |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2010-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1455201456 |
This paper provides an exchange rate assessment for sub-Saharan African economies by using methodologies similar to those developed by the International Monetary Fund’s Consultative Group on Exchange Rate Issues. As in the World Economic Outlook (IMF, 2009a), the unbalanced panel dataset covers 182 countries from 1973 to 2014. We apply four methodologies to assess the fundamental exchange rate: macroeconomic balance, equilibrium real exchange rate, external sustainability, and purchasing power parity. Results show that the impact of macroeconomic fundamentals on the equilibrium real exchange rate is different for sub-Saharan African economies than for advanced and less advanced economies.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 38 |
| Release | : 1988-12-09 |
| Genre | : Business & Economics |
| ISBN | : 1451946945 |
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 102 |
| Release | : 2005-05-31 |
| Genre | : Business & Economics |
| ISBN | : |
This first, annual issue of Regional Economic Outlook: Sub-Saharan Africa analyzes economic, trade, and institutional issues in 2004, and prospects in 2005, for the 42 countries covered by the IMF African Department (for data reasons, Eritrea and Liberia are excluded). Topics examined include responses to exogenous shocks, growth performance and growth-enhancing policies, and the effectiveness of regional trade arrangements. Detailed aggregate and country data (as of February 24, 2005) are provided in the appendix.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2021-05-06 |
| Genre | : Business & Economics |
| ISBN | : 1513573691 |
Determining the magnitude and speed of the exchange rate passthrough (ERPT) to inflation has been of paramount importance for policy-makers in developed and emerging economies. This paper estimates the exchange rate passthrough in Mozambique using econometric techniques on a sample spanning from 2001 to 2019. Results suggest that the ERPT is assymetric, sizable and fast, with 50 percent of the exchange rate variations passing through to prices in less than six months. Policy-makers should continue to pursue low and stable inflation and develop a strong track record of prudent macroeconomic policies for the ERPT to decline.
| Author | : Mr.Steven Phillips |
| Publisher | : International Monetary Fund |
| Total Pages | : 68 |
| Release | : 2014-01-13 |
| Genre | : Business & Economics |
| ISBN | : 1484346785 |
The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing between the positive empirical analysis and the normative assessment of current accounts and exchange rates, and highlights the roles of policies and policy distortions. This paper provides a comprehensive description and discussion of the 2013 version (“2.0”) of the EBA methodology, including areas for its further development.
| Author | : Ronald MacDonald |
| Publisher | : Routledge |
| Total Pages | : 334 |
| Release | : 2005 |
| Genre | : Foreign exchange |
| ISBN | : 1134838220 |
''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
| Author | : Sebastian Edwards |
| Publisher | : Johns Hopkins University Press |
| Total Pages | : 110 |
| Release | : 1988 |
| Genre | : Business & Economics |
| ISBN | : |
This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
| Author | : World Bank |
| Publisher | : |
| Total Pages | : 324 |
| Release | : 1989 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : |
| Publisher | : |
| Total Pages | : 44 |
| Release | : 1994 |
| Genre | : Political Science |
| ISBN | : |
| Author | : Mr.Ivohasina Fizara Razafimahefa |
| Publisher | : International Monetary Fund |
| Total Pages | : 57 |
| Release | : 2012-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1475503989 |
This 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 the SSA region since the mid-1990s following marked improvements in macroeconomic and political environments.
