Title
Sources of real exchange rate fluctuations : empirical evidence from nine African countries Sources of real exchange rate fluctuations : empirical evidence from nine African countries
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Manchester ,
Subject
Economics
Source (journal)
Manchester School / University of Manchester. Department of Economics. - Manchester, 1998, currens
Volume/pages
77(2009) :S:1 , p. 66-84
ISSN
1463-6786
ISI
000268030900004
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
We investigate the sources of real exchange rate fluctuations in a sample of nine African countries from 1980:01 to 2005:04, using a trivariate structural vector autoregression. The analysis is motivated by a stochastic sticky-price model from which three shocks are identified; demand, supply and monetary shocks. The results indicate that demand shocks are the predominant source of real exchange rate movements in these countries, although nominal shocks have also played a small but significant role in South Africa and Botswana, and supply shocks seem to be of some relevance for Algeria, Egypt and Tanzania.
E-info
https://repository.uantwerpen.be/docman/iruaauth/e36c46/8821802.pdf
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