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We verify whether cocoa prices could be a source of inflation in five countries of the West African region within a framework that includes other variables such as migrant remittances to the region and a fiscal policy variable represented by the government budget deficit. Unlike earlier studies that explicitly use money supply variables, the inclusion of migrant remittances enables us to examine the effect of an international capital flow variable on inflation. The results reveal that the influence of cocoa prices on consumer price inflation is strong and statistically significant. The influence of the budget deficit and the flow of migrant remittance variables on inflation are, however, weak. -- inflation ; West Africa ; cocoa ; budget deficits ; remittances

The paper uses the Johansen cointegration approach to analyse long-run pricing strategies of pork and chicken retailers in Austria. Long-run retail pricing strategy is found to be dependent on market share and price elasticity of demand for product. A combination of mark-up pricing strategy for pork and a competitive pricing strategy for chicken is considered by retailers to yield maximum profit. Long-run price adjustment reveals linkages to pricing strategy. The versatility of the Johansen cointegration technique as a tool capable of analysing both competitive and imperfect market situations is also revealed. The paper recommends meat policy to be product specific rather than holistic.

The current study examines the relationship between the world oil price and aggregate demand in a developing country, Ghana, via the interest rate channel by means of cointegration analysis. Results of the study indicate that oil price - by impacting the price level positively - negatively impacts real output. The results also indicate that monetary policy is initially eased in response to a surge in the price of oil in order to lessen any growth consequences, but at the cost of higher inflation. The ensuing higher inflation, however, prompts a subsequent tightening of monetary policy leading to a further decline in output. In addition, output does not revert quickly to its initial level after an oil price shock, but declines over an extended period.

We verify whether cocoa prices could be a source of inflation in five countries of the West African region within a framework that includes other variables such as migrant remittances to the region and a fiscal policy variable represented by the government budget deficit. Unlike earlier studies that explicitly use money supply variables, the inclusion of migrant remittances enables us to examine the effect of an international capital flow variable on inflation. The results reveal that the influence of cocoa prices on consumer price inflation is strong and statistically significant. The influence of the budget deficit and the flow of migrant remittance variables on inflation are, however, weak.

The study uses the linear AIDS technique to analyse how consumers of cassava food products in the Lagos metropolitan area react to economic and demographic factors and how consumer reactions can be captured to bring about effective policy formulation for food security and poverty alleviation through value added agricultural production. The results establish that demographic factors such as religion and residential area help to explain perceived variations in the consumption of cassava food products. Given that demand is price-inelastic for all cassava food products examined in the study, declining prices stemming from a bumper cassava crop harvest would lead to corresponding declines in producer revenues. In view of the high expenditure elasticities, therefore, a policy option that would boost productivity and incomes of consumers is considered desirable. Such a policy could be one that saps off excess farm labour through maintaining and promoting investment in the food-processing sector.

This paper uses a generalized estimating equations approach to investigate the willingness of street hawkers in Accra to exit their trade when offered viable alternatives. We observe a direct relationship between willingness to exit hawking and age. Willingness to exit hawking declines over increasing experience. Hawkers who have encountered arrest are less likely to exit. Also, hawkers who received financial assistance to facilitate their business are less likely to exit. Plus, monthly savings from hawking may indirectly influence a rejection of the offer to start an alternative trade. Finally, the willingness to quit hawking is not significantly influenced by gender, sales revenue, and the road description in the model. The results of the analysis could help improve the success of future intervention programmes.