Rodrik, Dani; Devarajan, Shantayanan - 2021
exchange-rate system. We then apply the framework to the CFA Zone countries in Africa, which have maintained a fixed parity … maintain lower inflation levels than their neighbors. Our framework provides a way of weighing these costs and benefits. The … inflation differential between CFA and non-CFA African countries has been around 14 percentage points. We attribute this …
