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Understanding Inflation Inertia in Angola

Understanding Inflation Inertia in Angola »

Source: Understanding Inflation Inertia in Angola

Volume/Issue: 2009/98

Series: IMF Working Papers

Author(s): Alexander Kyei , and Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2009

ISBN: 9781451872453

Keywords: exchange rate, vector error correction, money growth, inflation rate,

In recent years, the decline in inflation in Angola has stalled and further steps may be needed to attain the authorities' medium term goal of meeting the Southern African Development Community (SADC) convergence c...

Money Demand in Guyana

Money Demand in Guyana »

Source: Money Demand in Guyana

Volume/Issue: 2000/119

Series: IMF Working Papers

Author(s): Philippe Egoume Bossogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451854169

Keywords: money demand, cointegration, error-correction model, inflation, statistics

This paper analyzes broad money demand (M2) in Guyana from January 1990 to September 1999; a period marked by deep transformations aimed at shifting Guyana from a centralized to a market economy. The paper develops...

Demand for M2 in an Emerging-Market Economy

Demand for M2 in an Emerging-Market Economy »

Source: Demand for M2 in an Emerging-Market Economy : An Error-Correction Model for Malaysia

Volume/Issue: 1999/173

Series: IMF Working Papers

Author(s): Subramanian Sriram

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1999

ISBN: 9781451858617

Keywords: Asia, financial system, money demand, cointegration, error-correction, inflation, equation

This paper analyses demand for M2 in Malaysia from August 1973 to December 1995 under both the closed- and open-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic erro...

Inflation in Tajikistan

Inflation in Tajikistan »

Source: Inflation in Tajikistan : Forecasting Analysis and Monetary Policy Challenges

Volume/Issue: 2010/17

Series: IMF Working Papers

Author(s): Svetlana Vtyurina , and Fahad Alturki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

ISBN: 9781451962178

Keywords: cointegration, error correction model, autoregressive moving average model, monetary fund,

This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing diffe...

Inflation Dynamics in the Dominican Republic

Inflation Dynamics in the Dominican Republic »

Source: Inflation Dynamics in the Dominican Republic

Volume/Issue: 2004/29

Series: IMF Working Papers

Author(s): Oral Williams , and Olumuyiwa Adedeji

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2004

ISBN: 9781451844832

Keywords: Cointegration, Error-Correction, demand for money, central bank, foreign exchange, Open Economy Macroeconomics,

This paper investigates the determinants of inflation in the Dominican Republic during 1991-2002, a period characterized by remarkable macroeconomic stability and growth. By developing a parsimonious and empiricall...

Survey of Literature on Demand for Money

Survey of Literature on Demand for Money »

Source: Survey of Literature on Demand for Money : Theoretical and Empirical Work with Special Reference to Error-Correction Models

Volume/Issue: 1999/64

Series: IMF Working Papers

Author(s): Subramanian Sriram

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1999

ISBN: 9781451848540

Keywords: money demand, literature survey, cointegration, error-correction models, inflation, money stock, real money

A stable money demand forms the cornerstone in formulating and conducting monetary policy. Consequently, numerous theoretical and empirical studies have been conducted in both industrial and developing countries to...

The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy

The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy »

Source: The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy : An Application of the Structural Error Correction Model

Volume/Issue: 2000/165

Series: IMF Working Papers

Author(s): Tetsuya Konuki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

ISBN: 9781451858044

Keywords: Monetary and fiscal policy, structural error correction models, equation, aggregate demand, equations, cointegration

This paper empirically analyzes the short-run effects of monetary and fiscal policy on aggregate demand, using the two-step structural error correction method. This method has an advantage over the standard reduced...

Tax Buoyancy in OECD Countries

Tax Buoyancy in OECD Countries »

Source: Tax Buoyancy in OECD Countries

Volume/Issue: 2014/110

Series: IMF Working Papers

Author(s): Vincent Belinga , Dora Benedek , Ruud A. Mooij , and John Norregaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2014

ISBN: 9781498305075

Keywords: Tax buoyancy, Error Correction Model, total tax revenue, tax revenues, Forecasts of Budgets, Deficits, and Debt,

By how much will faster economic growth boost government revenue? This paper estimates short- and long-run tax buoyancy in OECD countries between 1965 and 2012. We find that, for aggregate tax revenues, short-run t...

Forecasting Commodity Prices

Forecasting Commodity Prices »

Source: Forecasting Commodity Prices : Futures Versus Judgment

Volume/Issue: 2004/41

Series: IMF Working Papers

Author(s): Aasim Husain , and Chakriya Bowman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2004

ISBN: 9781451846133

Keywords: cointegration, error correction, forecast, futures prices, statistic, forecasting, futures price, cointergration,

This paper assesses the performance of three types of commodity price forecasts—those based on judgment, those relying exclusively on historical price data, and those incorporating prices implied by commodit...

Spillovers from U.S. Monetary Policy Normalization on Brazil and Mexico's Sovereign Bond Yields

Spillovers from U.S. Monetary Policy Normalization on Brazil and Mexico's Sovereign Bond Yields »

Source: Spillovers from U.S. Monetary Policy Normalization on Brazil and Mexico's Sovereign Bond Yields

Volume/Issue: 2017/50

Series: IMF Working Papers

Author(s): Carlos Góes , Herman Kamil , Phil De Imus , Mercedes Garcia-Escribano , Roberto Perrelli , Shaun Roache , and Jeremy Zook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 March 2017

ISBN: 9781475586077

Keywords: Western Hemisphere, Brazil, Mexico, QE, tapering, local-currency sovereign bond yields, vector error correction models, General

This paper examines the transmission of changes in the U.S. monetary policy to localcurrency sovereign bond yields of Brazil and Mexico. Using vector error-correction models, we find that the U.S. 10-year bond yiel...