Modeling Inflation for Mali
| Autor: | Mame Astou Diouf |
|---|---|
| Rok vydání: | 2007 |
| Předmět: |
Inflation
Macroeconomics Monetarism Cointegration media_common.quotation_subject Small open economy Money supply Terms of trade External sector Economics General Earth and Planetary Sciences Demand for money Real effective exchange rates Money demand Mali real exchange rate food supply cointegration price inflation terms of trade money market General Environmental Science media_common |
| Popis: | This paper investigates how consumer price inflation is determined in Mali for 1979-2006 along three macroeconomic explanations: (1) monetarist theories, emphasizing the impact of excess money supply, (2) the structuralist hypothesis, stressing the impact of supply-side constraints, and (3) external theories, describing the effects of foreign transmission mechanisms on a small open economy. The analysis makes use of cointegration techniques and general-to-specific modeling. Average national rainfall, and to a lesser extent deviations from monetary and external sector equilibrium are found to be the main long-run determinants of inflation. The paper offers policy recommendations for controlling inflation in Mali. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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