05364oam 22012134 450 991081719420332120240402044709.01-4623-9210-51-4518-7229-197866128430201-4519-9836-81-282-84302-8(CKB)3170000000055247(SSID)ssj0000940115(PQKBManifestationID)11967009(PQKBTitleCode)TC0000940115(PQKBWorkID)10948127(PQKB)11088763(OCoLC)503157487(MiAaPQ)EBC1605903(IMF)WPIEE2009082(IMF)WPIEA2009082(EXLCZ)99317000000005524720020129d2009 uf 0engurcn|||||||||txtccrDeterminants of Inflation in GCC /Magda Kandil, Hanan Morsy1st ed.Washington, D.C. :International Monetary Fund,2009.32 p. illIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1664-7 Includes bibliographical references.Cover -- Contents -- I. Introduction -- II. Literature Review -- III. Econometric Methodology -- IV. Data and Estimation -- V. Extensions -- VI. Conclusions -- References -- Text Tables -- 1. Cointegration Test for Inflation Equation -- 2. Vector Error Correction Estimates: Lon Run Equation -- Appendix Figure 1. Impulse Response -- Appendix Tables -- 1. Bahrain: Vector Error Correction Estimates -- 2. Kuwait: Vector Error Correction Estimates -- 3. Oman: Vector Error Correction Estimates -- 4. Qatar: Vector Error Correction Estimates -- 5. Saudi Arabia: Vector Error Correction Estimates -- 6. United Arab Emirates: Vector Error Correction Estimates -- 7. Variance Decomposition p -- 8. Bahrain: Vector Error Correction Estimates -- 9. Kuwait: Vector Error Correction Estimates -- 10. Oman: Vector Error Correction Estimates -- 11. United Arab Emirates: Vector Error Correction Estimates.Inflationary pressures have heightened in the oil-rich Gulf Cooperation Council (GCC) since 2003. This paper studies determinants of inflation in GCC, using an empirical model that includes domestic and external factors. Inflation in major trading partners appears to be the most relevant foreign factor. In addition, oil revenues have reinforced inflationary pressures through growth of credit and aggregate spending. In the short-run, binding capacity constraints also explain higher inflation given increased government spending. Nonetheless, by targeting supply-side bottlenecks, the increase in government spending is easing capacity constraints and will ultimately help to moderate price inflation.IMF Working Papers; Working Paper ;No. 2009/082Inflation (Finance)Foreign ExchangeimfInflationimfPublic FinanceimfProduction and Operations ManagementimfBusiness FluctuationsimfCyclesimfOpen Economy MacroeconomicsimfInternational Policy Coordination and TransmissionimfEconomic IntegrationimfEconomic Development: GeneralimfPrice LevelimfDeflationimfNational Government Expenditures and Related Policies: GeneralimfMacroeconomics: ProductionimfMacroeconomicsimfCurrencyimfForeign exchangeimfPublic finance & taxationimfExpenditureimfExchange rate adjustmentsimfExchange ratesimfCapacity utilizationimfPricesimfProductionimfExpenditures, PublicimfIndustrial capacityimfUnited Arab EmiratesimfInflation (Finance)Foreign ExchangeInflationPublic FinanceProduction and Operations ManagementBusiness FluctuationsCyclesOpen Economy MacroeconomicsInternational Policy Coordination and TransmissionEconomic IntegrationEconomic Development: GeneralPrice LevelDeflationNational Government Expenditures and Related Policies: GeneralMacroeconomics: ProductionMacroeconomicsCurrencyForeign exchangePublic finance & taxationExpenditureExchange rate adjustmentsExchange ratesCapacity utilizationPricesProductionExpenditures, PublicIndustrial capacity332.414Kandil Magda1631330Morsy Hanan1631331International Monetary Fund.DcWaIMFBOOK9910817194203321Determinants of Inflation in GCC3970072UNINA