05529oam 22012854 450 991096559730332120250426110927.0978661284302097814623921001462392105978145187229314518722919781451998368145199836897812828430281282843028(CKB)3170000000055247(SSID)ssj0000940115(PQKBManifestationID)11967009(PQKBTitleCode)TC0000940115(PQKBWorkID)10948127(PQKB)11088763(OCoLC)503157487(IMF)WPIEE2009082(IMF)WPIEA2009082(MiAaPQ)EBC1605903WPIEA2009082(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: Monograph9781451916645 1451916647 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)Business FluctuationsimfCapacity utilizationimfCurrencyimfCyclesimfDeflationimfEconomic Development: GeneralimfEconomic IntegrationimfExchange rate adjustmentsimfExchange ratesimfExpenditureimfExpenditures, PublicimfForeign ExchangeimfForeign exchangeimfIndustrial capacityimfInflationimfInternational Policy Coordination and TransmissionimfMacroeconomicsimfMacroeconomics: ProductionimfNational Government Expenditures and Related Policies: GeneralimfOpen Economy MacroeconomicsimfPrice LevelimfPricesimfProduction and Operations ManagementimfProductionimfPublic finance & taxationimfPublic FinanceimfUnited Arab EmiratesimfInflation (Finance)Business FluctuationsCapacity utilizationCurrencyCyclesDeflationEconomic Development: GeneralEconomic IntegrationExchange rate adjustmentsExchange ratesExpenditureExpenditures, PublicForeign ExchangeForeign exchangeIndustrial capacityInflationInternational Policy Coordination and TransmissionMacroeconomicsMacroeconomics: ProductionNational Government Expenditures and Related Policies: GeneralOpen Economy MacroeconomicsPrice LevelPricesProduction and Operations ManagementProductionPublic finance & taxationPublic Finance332.414Kandil Magda1816485Morsy Hanan1816381International Monetary Fund.DcWaIMFBOOK9910965597303321Determinants of Inflation in GCC4372595UNINA