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Periodical article | Leiden University catalogue | WorldCat |
Title: | Sources of inflation in sub-Saharan Africa |
Authors: | Barnichon, Régis Peiris, Shanaka J. |
Year: | 2008 |
Periodical: | Journal of African Economies |
Volume: | 17 |
Issue: | 5 |
Pages: | 729-746 |
Language: | English |
Geographic term: | Subsaharan Africa |
Subject: | inflation |
External link: | https://jae.oxfordjournals.org/content/17/5/729.full.pdf |
Abstract: | This paper explores the sources of inflation in sub-Saharan Africa by examining the relationship between inflation, the output gap and the real money gap. Using heterogeneous panel cointegration estimation techniques, it estimates cointegrating vectors for the production function and the real money demand function to recover the structural output and money gaps for 17 African countries. The central finding is that both gaps contain significant information regarding the evolution of inflation, albeit with a larger role played by the money gap. There is no significant evidence of asymmetry in the relationship. Bibliogr., notes, ref., sum. [Journal abstract] |