Estimating a Small Open-Economy Model for Egypt : Spillovers, Inflation Dynamics, and Implications for Monetary Policy /

This paper estimates a small open economy model for Egypt to analyze inflation, output dynamics and monetary policy during 2005-2010. The interest rate channel is found to be relatively weak in Egypt, complicating the use of interest rates as the immediate target of monetary policy. However, the pap...

Повний опис

Бібліографічні деталі
Автор: Arbatli Saxegaard, Elif
Інші автори: Moriyama, Kenji
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2011.
Серія:IMF Working Papers; Working Paper ; No. 2011/108
Онлайн доступ:Full text available on IMF
LEADER 01762cas a2200253 a 4500
001 AALejournalIMF007173
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781455261376 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Arbatli Saxegaard, Elif. 
245 1 0 |a Estimating a Small Open-Economy Model for Egypt :   |b Spillovers, Inflation Dynamics, and Implications for Monetary Policy /  |c Elif Arbatli Saxegaard, Kenji Moriyama. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2011. 
300 |a 1 online resource (40 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper estimates a small open economy model for Egypt to analyze inflation, output dynamics and monetary policy during 2005-2010. The interest rate channel is found to be relatively weak in Egypt, complicating the use of interest rates as the immediate target of monetary policy. However, the paper also finds a significant level of persistence in the policy rate, making monetary policy pro-cyclical. More active use of interest rate policy, measures to improve domestic debt markets and a gradual move towards inflation targeting can help support a successful disinflation strategy for Egypt. 
538 |a Mode of access: Internet 
700 1 |a Moriyama, Kenji. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/108 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2011/108/001.2011.issue-108-en.xml  |z IMF e-Library