LEADER 05258oam 22010454 450 001 9910959048903321 005 20250426110535.0 010 $a9786612840456 010 $a9781462383047 010 $a1462383041 010 $a9781282840454 010 $a1282840452 010 $a9781451985276 010 $a1451985274 010 $a9781451869514 010 $a1451869517 035 $a(CKB)3170000000054994 035 $a(SSID)ssj0000943018 035 $a(PQKBManifestationID)11492231 035 $a(PQKBTitleCode)TC0000943018 035 $a(PQKBWorkID)10994193 035 $a(PQKB)11559131 035 $a(OCoLC)815741363 035 $a(IMF)WPIEE2008090 035 $a(MiAaPQ)EBC1605808 035 $a(IMF)WPIEA2008090 035 $aWPIEA2008090 035 $a(EXLCZ)993170000000054994 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aPrice Dynamics in the Eastern Caribbean /$fRupa Duttagupta, Yan Sun 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (23 pages) $cillustrations (some color) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/90 300 $aBibliographic Level Mode of Issuance: Monograph 311 08$a9781451914054 311 08$a1451914059 320 $aIncludes bibliographical references. 327 $aIntro -- Contents -- I. Introduction -- II. The Price Data -- III. Impact of U.S. Price Movements -- IV. Real Exchange Rates Within the ECCU -- A. Literature Review -- B. Does PPP Hold? -- C. What Explains the Deviation from PPP? -- D. Does Engle's Regularity Hold? -- V. Concluding Remarks -- Tables -- 1. Current Composition of CPI Basket -- 2. Panel Unit Root Tests of Relative ECCU Prices with the U.S. -- 3. Cointegration Test Between ECCU and U.S. Prices -- 4. Price Levels-Long-Run Equilibrium Relationships -- 5. Restricted Coefficient Estimates of Short-Run Inflation Dynamics Model -- 6. Panel Unit Root Tests of Relative Prices Within ECCU -- 7. Panel Unit Root Tests of Relative Disaggregated Prices Within ECCU -- 8. Standard Deviation of Logarithmic Price Differences -- 9. Explaining PPP Deviation -- 10. Ratio of Relative Price Variability to Cross-Country PPP Deviation -- Figures -- 1. Consumer Price Index Movement, March 1990-December 2006 -- 2. Tradable Price Index Movement, March 1990-December 2006 -- 3. Nontradable Price Index Movement, March 1990-December 2006 -- 4. Relative Price Indexes with the U.S., March 1990-December 2006 -- 5. Quarterly Inflation, March 1990-December 2006 -- 6. Relative Prices with Antigua and Barbuda -- 7. Relative Nontradable Prices with Antigua and Barbuda -- 8. Relative Tradable Prices with Antigua and Barbuda -- References. 330 3 $aThe Eastern Caribbean Currency Union (ECCU) countries share a common currency, the EC dollar, which has been pegged to the U.S. dollar at the same rate for more than three decades. This paper examines the influence of the peg on ECCU price stability, and analyzes whether absolute Purchasing Power Parity (PPP) holds within the currency union. It shows that U.S. price stability has helped anchor price movement in the ECCU. As the same time, inflation in the ECCU is not entirely imported from the U.S., and has some domestic policy content. In addition, deviation from PPP within the ECCU can be attributed to persistent price dispersion of nontradables. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/090 606 $aPrices$zCaribbean Area$xEconometric models 606 $aInflation (Finance)$zCaribbean Area$xEconometric models 606 $aMoney$zCaribbean Area$xEconometric models 606 $aConsumer price indexes$2imf 606 $aCurrency$2imf 606 $aDeflation$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aInflation$2imf 606 $aMacroeconomics$2imf 606 $aOpen Economy Macroeconomics$2imf 606 $aPrice indexes$2imf 606 $aPrice Level$2imf 606 $aPrices$2imf 606 $aPurchasing power parity$2imf 606 $aReal exchange rates$2imf 607 $aCaribbean Area$xEconomic conditions$xEconometric models 607 $aUnited States$xEconomic conditions$xEconometric models 607 $aUnited States$2imf 615 0$aPrices$xEconometric models. 615 0$aInflation (Finance)$xEconometric models. 615 0$aMoney$xEconometric models. 615 7$aConsumer price indexes 615 7$aCurrency 615 7$aDeflation 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aInflation 615 7$aMacroeconomics 615 7$aOpen Economy Macroeconomics 615 7$aPrice indexes 615 7$aPrice Level 615 7$aPrices 615 7$aPurchasing power parity 615 7$aReal exchange rates 676 $a337.1729 700 $aDuttagupta$b Rupa$01815725 701 $aSun$b Yan$0690256 801 0$bDcWaIMF 906 $aBOOK 912 $a9910959048903321 996 $aPrice Dynamics in the Eastern Caribbean$94372475 997 $aUNINA