This study analyzes the effect of exchange rate pass-through (ERPT) on the import prices of West African countries. We used a heterogeneous dynamic panel over the period 1991–2018 and estimated the ERPT using the pooled mean group, mean group, and augmented mean group. The results show that an exchange rate appreciation of 1% in the short term leads to a decrease in the price of imports by 0.25% and 0.20%, respectively, for the West African Economic and Monetary Union (WAEMU) countries and those outside the WAEMU zone. However, considering other countries, we find that the ERPT has a long-term effect and causes a rise in import prices of 0.83%. This effect depends on the level of inflation. Thus, the pass-through effect appears to be heterogeneous across countries.

中文翻译：

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汇率对进口价格的传递：来自西非国家异质小组的证据

本研究分析了汇率传导（ERPT）对西非国家进口价格的影响。我们在 1991 年至 2018 年期间使用了异质动态面板，并使用合并平均组、平均组和增强平均组估计了 ERPT。结果表明，对于西非经济和货币联盟（WAEMU）国家和WAEMU以外的国家，短期内汇率升值1%导致进口价格分别下降0.25%和0.20%区。然而，考虑到其他国家，我们发现ERPT具有长期影响，导致进口价格上涨0.83%。这种影响取决于通货膨胀水平。因此，各国之间的传递效应似乎是异质的。