
This Paper Examines The Relative Importance Of Monetary Growth And Exchange Rate Depreciation As Causes Of Inflation In A Sample Of 10 Sub-saharan African Countries. Causality Tests And Impulse Response Functions Derived From Vector Autoregression (var) Analysis Suggest That Both Monetary Expansion And Exchange Rate Adjustments Cause Inflation In A Number Of These Countries. However, The Failure Of The Tests To Attribute The Bulk Of The Variance In Inflation In Most Of The Countries To Either Variable Suggests Either A Problem With The Statistical Technique Or That Some Other Factor--perhaps Structural Bottlenecks Or A Measure Of Overall Macroeconomic Policy Stance Incorporating Both Monetary And Exchange Rate Policy--may Be Even More Important As A Determinant Of Inflation In African Countries. Elie Canetti, Joshua Greene. Bibliographic Level Mode Of Issuance: Monograph English
Page Count:
0
Publication Date:
1991-01-01
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