| Description |
1 online resource (28 pages) : color illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/13/78 |
|
IMF working paper ; WP/13/78.
|
| Contents |
Cover; Contents; I. Introduction; II. A Brief Overview of Inflation Developments; Figures; 1. Money, Output Growth and Consumer Price Inflation; 2. Composition and Structure of CPI; III. Theoretical Background and Empirical Methodology; IV. Data; V. Estimating the Econometric Model; Tables; 1. Unit Root Test Results; VI. Empirical Results; 2. Determinants of Consumer Prices; 3. Long-Run Equation and Short-Run Dynamics; VII. Conclusion; Appendix Tables; A1. Pairwise Correlations; A2. Cointegration Analysis; A3. Vector Error Correction Estimates; A4. Variance Decomposition |
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A5. Exchange Rate ChronologyAppendix Figure; A1: Impulse Responses |
| Summary |
"This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964-2010, using cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the econometric results indicate that government spending, money supply growth, global inflation, and exchange rate pass-through play central roles in the inflation process. These findings are broadly consistent with the experience of other countries that are natural resource dependent. We also find evidence that the imposition and subsequent removal of international sanctions on Libya had a noteworthy impact on consumer price inflation. Collectively, our estimates indicate that the deviations from an equilibrium path initiate significant adjustments in inflation dynamics, and that closer coordination between monetary and fiscal policies would improve the balance between economic growth and price stability"--Page 2 of pdf |
| Notes |
Title from PDF title page (IMF Web site, viewed Apr. 2, 2013) |
|
"Middle East and Central Asia Department"--Page 2 of pdf |
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"March 2013"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references (pages 21-23) |
| Subject |
Inflation (Finance) -- Libya
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Money supply -- Libya
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Exchange rate pass-through -- Libya
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Economic sanctions -- Libya
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Economic sanctions
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Exchange rate pass-through
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Inflation (Finance)
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Money supply
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Libya
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| Form |
Electronic book
|
| Author |
Teksoz, Katerina, author.
|
|
International Monetary Fund, issuing body.
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| ISBN |
9781484305485 |
|
1484305485 |
|
1484386787 |
|
9781484386781 |
|
9781484353042 |
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1484353048 |
|
