04728oam 22012494 450 991097515230332120250426110045.09786613830289978146238715114623871529781452777399145277739X9781283517836128351783397814519081141451908113(CKB)3360000000443953(EBL)3014435(SSID)ssj0000943272(PQKBManifestationID)11523889(PQKBTitleCode)TC0000943272(PQKBWorkID)10975193(PQKB)10075177(OCoLC)694141084(MiAaPQ)EBC3014435(IMF)WPIEE2006015(IMF)WPIEA2006015WPIEA2006015(EXLCZ)99336000000044395320020129d2006 uf 0engur|n|---|||||txtccrSuppressed Inflation and Money Demand in Zimbabwe /Sònia Muñoz1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (20 p.)IMF Working Papers"January 2006."9781451862751 145186275X Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. STYLIZED FACTS""; ""III. ESTIMATING A MONEY DEMAND EQUATION""; ""IV. INFLUENCE OF EXOGENOUS FACTORS ON VELOCITY MOVEMENTS""; ""V. CONCLUSION""; ""REFERENCES""The paper investigates the divergence between inflation and monetary expansion in Zimbabwe since late 2003. The substantial decline in velocity and increasing levels of real money balances during 2004 are at odds with a record of inflation closely tracking the growth rates of monetary aggregates in the past. Possible explanations for the divergence include an unstable demand for money, a sudden shift in the underlying demand for real balances due to a sharp change in an explanatory variable, and a structural break or aberration in a normally stable money demand relation reflecting some unexplained factor such as repressed inflation (given administered prices) or measurement errors in the consumer price index. The results of the study point to the last possibility as the most likely explanation.IMF Working Papers; Working Paper ;No. 2006/015Demand for moneyZimbabweInflation (Finance)ZimbabweCurrencyimfDeflationimfDemand for MoneyimfDemand for moneyimfDiffusion ProcessesimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfExchange ratesimfForeign ExchangeimfForeign exchangeimfInflationimfMacroeconomicsimfMonetary baseimfMonetary economicsimfMonetary expansionimfMonetary PolicyimfMonetary policyimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfMoney and Monetary PolicyimfMoney supplyimfMoneyimfPrice LevelimfPricesimfTime-Series ModelsimfZimbabweimfDemand for moneyInflation (Finance)CurrencyDeflationDemand for MoneyDemand for moneyDiffusion ProcessesDynamic Quantile RegressionsDynamic Treatment Effect ModelsExchange ratesForeign ExchangeForeign exchangeInflationMacroeconomicsMonetary baseMonetary economicsMonetary expansionMonetary PolicyMonetary policyMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralMoney and Monetary PolicyMoney supplyMoneyPrice LevelPricesTime-Series ModelsMuñoz Sònia1815672International Monetary Fund.Research Dept.DcWaIMFBOOK9910975152303321Suppressed Inflation and Money Demand in Zimbabwe4372490UNINA