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E31

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Price Level; Inflation; Deflation

What Price-Level Data Tells Us About Consumer Price Rigidity in Zimbabwe: Evidence From New Data

Mike Nyawo and Neil Rankin
This paper documents the price setting behaviour, and the change in this behaviour, amongst retail firms after the introduction of the new currency system in Zimbabwe. We use sample data which covers 291 products to investigate whether prices became more flexible (rigid) and to track the adjustment...
May 2016
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Inflation in South Africa: An Assessment of Alternative Inflation Models

Johannes W. Fedderke and Yang Liu
We consider the relative empirical performance of a range of inflation models for South Africa. Model coverage is of Phillips-curve, New Keynesian Phillips curve, monetarist, and structural models of inflation. Our core findings are that the single most robust covariate of inflation is unit labour...
Apr 2016
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Assessment of Monetary Union in SADC: Evidence from Cointegration and Panel Unit Root Tests

Mulatu F Zerihun, Marthinus C Breitenbach and Francis Kemegue
In this paper we investigate the likelihood of a proposed monetary union in the Southern African Development Community (SADC) being successful from the viewpoint of the Generalised Purchasing Power Parity (GPPP) hypothesis and optimum currency area (OCA) theory. We apply Johansen’s multivariate co-...
Feb 2015
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Price setting behaviour in Lesotho: Stylised facts from consumer retail prices

Mamello Amelia Nchake, Lawrence Edwards and Neil Rankin
This paper documents some of the main features of price setting behaviour by retail outlets in Lesotho over the period March 2002 to December 2009. The sample of data covers 229 product items for 345 retail outlets. The paper has three main objectives. Firstly, it presents key indicators of price...
Feb 2014
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Relative price variability: Which components of the consumer price index contribute towards its variability?

Eliphas Ndou and Siobhan Redford
This paper follows work by Choi, Kim and O’Sullivan (2011), but deviates from their analysis by looking at the relative price variability (RPV) of selected components of the consumer price index (CPI) rather than an aggregate measure. The purpose of this work is to analyse which components are more...
Jan 2014
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Inflation and Economic Growth: Evidence from the Southern African Development Countries

Manoel Bittencourt, Renee van Eyden and Monaheng Seleteng
In this paper we investigate the role of inflation rates in determining economic growth in fifteen sub-Saharan African countries, which are all members of the Southern African Development Community (SADC), between 1980 and 2009. The results, based on panel time-series data and analysis, suggest...
Jan 2014
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