05544oam 22011054 450 991078823200332120230721045645.01-4623-7395-X1-4527-7430-797866128414461-282-84144-01-4518-7051-5(CKB)3170000000055091(EBL)1607984(SSID)ssj0001488178(PQKBManifestationID)11850652(PQKBTitleCode)TC0001488178(PQKBWorkID)11430500(PQKB)10468042(OCoLC)468787375(MiAaPQ)EBC1607984(IMF)WPIEE2008193(EXLCZ)99317000000005509120020129d2008 uf 0engur|n|---|||||txtccrUnderstanding the Inflationary Process in the GCC Region : The Case of Saudi Arabia and Kuwait /Hesham Alogeel, Maher HasanWashington, D.C. :International Monetary Fund,2008.1 online resource (39 p.)IMF Working PapersIMF working paper ;WP/08/193Description based upon print version of record.1-4519-1504-7 Includes bibliographical references.Contents; I. Introduction; II. Brief Review of the Literature; III. Economic Model and Methodology; Figures; 1. Imports to Aggregate Domestic Demand Ratio, 1980-2007; 2. Non-oil Exports to Aggregate Domestic Demand Ratio, 1980-2007; IV. Data and Estimation; A. Inflationary developments; 3. GCC: Inflation, 1964-2007; B. Order of integration; C. Estimates of the inflation model (Saudi Arabia); Tables; 1. Unit Root Tests; 4. Saudi Arabia: Inflation and its Theoretical Determinants, 1967-2007; 2. Cointegration Test for Inflation Equation5. Saudi Arabia: Actual Inflation and Predicted Long- and Short-Run Inflation3. Saudi Arabia: Comparing Alternative Models; D. Estimates of the inflation model (Kuwait); 6. Kuwait: Inflation and its Theoretical Determinants, 1974-2007; 7. Kuwait: Actual Inflation and the Predicted Long-run and Short-run Inflation; 4. Kuwait: Comparing Alternative Models; Boxes; 1. Empirical Evidence on Exchange Rate Pass-through; V. Conclusions; References; Appendix 1. Detailed ECM Results; Appendix Tables; A1. Saudi Arabia: Vector Error Correction Estimates; A2. Kuwait: Vector Error Correction EstimatesA3. GCC: Selected Trading Partner WeightsA4. PPP Assumption and Residual Tests; Appendix 2. Calculating Demand Gap Series; Appendix 3. Money Demand Equation and Excess Money Supply; A5. Cointegration Test for Money Demand EquationThis paper investigates the factors that affect inflation in the GCC region by examining the inflationary processes in Saudi Arabia and Kuwait. The paper utilizes a model that accounts for foreign factors affecting inflation, such as trading partners' inflation and exchange rate pass-through effect, as well as domestic influences. The analysis concludes that, in the long run, higher inflation in trading partners' countries is the main driving force for inflation in the two countries, with significant but lower contributions from the exchange rate pass-through effect and oil prices. Demand and money supply shocks affect inflation in the short run.IMF Working Papers; Working Paper ;No. 2008/193Inflation (Finance)Persian Gulf StatesEconometric modelsInflation (Finance)Saudi ArabiaEconometric modelsInflation (Finance)KuwaitEconometric modelsForeign ExchangeimfInflationimfMacroeconomicsimfMoney and Monetary PolicyimfPrice LevelimfDeflationimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfDemand for MoneyimfEnergy: Demand and SupplyimfPricesimfMonetary economicsimfCurrencyimfForeign exchangeimfMonetary baseimfDemand for moneyimfExchange rate pass-throughimfOil pricesimfMoney supplyimfMoneyimfSaudi ArabiaimfInflation (Finance)Econometric models.Inflation (Finance)Econometric models.Inflation (Finance)Econometric models.Foreign ExchangeInflationMacroeconomicsMoney and Monetary PolicyPrice LevelDeflationMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralDemand for MoneyEnergy: Demand and SupplyPricesMonetary economicsCurrencyForeign exchangeMonetary baseDemand for moneyExchange rate pass-throughOil pricesMoney supplyMoney332.41Alogeel Hesham1485162Hasan Maher1485156DcWaIMFBOOK9910788232003321Understanding the Inflationary Process in the GCC Region3704149UNINA