Estimating a small open-economy model for Egypt : spillovers, inflation dynamics, and implications for monetary policy /

Estimating a small open-economy model for Egypt : spillovers, inflation dynamics, and implications for monetary policy /

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Bibliographic Details
Author / Creator:	Arbatli, Elif, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2011.
Description:	1 online resource (40 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/11/108 IMF working paper ; WP/11/108.
Subject:	Monetary policy -- Egypt -- Econometric models. Inflation (Finance) -- Egypt -- Econometric models. Interest rates -- Egypt -- Econometric models. Inflation (Finance) -- Econometric models. Interest rates -- Econometric models. Monetary policy -- Econometric models. Egypt.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12499331

Hidden Bibliographic Details
Other authors / contributors:	Moriyama, Kenji, author. International Monetary Fund. Middle East and Central Asia Department, issuing body.
ISBN:	1283556324 9781283556323 9781462309221 1462309224 9781455261376 1455261378
Notes:	Includes bibliographical references.
Summary:	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.
Other form:	Print version: Fund, International Monetary. Estimating a Small Open-Economy Model for Egypt: Spillovers, Inflation Dynamics, and Implications for Monetary Policy. Washington : International Monetary Fund, ©2011 9781455261376

Description
Summary:	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.
Physical Description:	1 online resource (40 pages) : illustrations
Bibliography:	Includes bibliographical references.
ISBN:	1283556324 9781283556323 9781462309221 1462309224 9781455261376 1455261378