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...

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Bibliografiska uppgifter
Huvudupphovsman: Arbatli Saxegaard, Elif
Övriga upphovsmän: Moriyama, Kenji
Materialtyp: Tidskrift
Språk:English
Publicerad: Washington, D.C. : International Monetary Fund, 2011.
Serie:IMF Working Papers; Working Paper ; No. 2011/108
Länkar:Full text available on IMF
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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