UID:
edoccha_9958120567502883
Umfang:
1 online resource (31 p.)
ISBN:
1-4623-4666-9
,
1-4552-8183-2
,
1-282-84617-5
,
9786612846175
,
1-4552-0127-8
Serie:
IMF working paper ; WP/10/144
Inhalt:
Yemen has had a high and volatile rate of inflation in recent years. This paper studies the underlying determinants of inflation dynamics in Yemen using three different approaches: (i) a single equation model, (ii) a Structural Vector Autoregression Model, and (iii) a Vector Error Correction Model. The outcomes suggest that inflation dynamics in Yemen are driven by international price shocks, exchange rate depreciation, domestic demand shocks, and monetary innovations. The impact of international prices and exchange rate depreciation indicate a significant pass-through of import prices. In the short run, external shocks of international prices and the exchange rate account for most variations in inflation, but domestic shocks to money supply and domestic demand explain larger variations in the medium term.
Anmerkung:
"June 2010."
,
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Empirical Analysis; A. Single-Equation Model: OLS Regressions; 1. Single Equation Model Regressions; B. Structural Vector Autoregression Model (SVAR); 1. Impulse Response of Inflation to Structural Shocks: SVAR Analysis; 2. Yemen Prices and International Prices: 2000-07; 3. Annual Inflation in Yemen: 2000-07; 4. Variance Structural Decomposition of Inflation: SVAR Analysis; 2. Inflation Elasticities to Various Shocks; 3. Variance Decomposition of Inflation: SVAR Analysis; C. Vector Error Correction Model (VECM)
,
5. Impulse Response of Inflation to Shocks: VECM Analysis6. Variance Decomposition of Inflation: VECM Analysis; 4. Variance Decomposition of Inflation: VCEM Analysis; III. Conclusions and Policy Implications; A. Data Description; B. Tables; C. Figures; References; Footnotes
Sprache:
Englisch
