Suppressed Inflation and Money Demand in Zimbabwe / / Sònia Muñoz

• Autore: Muñoz Sònia
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Descrizione fisica: 1 online resource (20 p.)
• Soggetto topico: Demand for money - Zimbabwe; Inflation (Finance) - Zimbabwe; Foreign Exchange; Inflation; Money and Monetary Policy; Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; Price Level; Deflation; Demand for Money; Monetary Policy, Central Banking, and the Supply of Money and Credit: General; Monetary Policy; Monetary economics; Macroeconomics; Currency; Foreign exchange; Demand for money; Monetary base; Exchange rates; Monetary expansion; Prices; Money; Monetary policy; Money supply
• Soggetto geografico: Zimbabwe
• Note generali: "January 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. STYLIZED FACTS""; ""III. ESTIMATING A MONEY DEMAND EQUATION""; ""IV. INFLUENCE OF EXOGENOUS FACTORS ON VELOCITY MOVEMENTS""; ""V. CONCLUSION""; ""REFERENCES""
• Sommario/riassunto: 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.
• Titolo autorizzato: Suppressed Inflation and Money Demand in Zimbabwe
• ISBN: 1-4623-8715-2; 1-4527-7739-X; 1-283-51783-3; 9786613830289; 1-4519-0811-3
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788693203321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/015