Inflation Inertia in Egypt and its Policy Implications

This paper investigates the degree of inflation inertia in Egypt and its determinants using the cross country data consisting of over 100 countries. Medium-unbiased estimator of inflation inertia in Egypt is high compared to other countries, as indicated by its location around the upper quartile amo...

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Bibliographic Details
Main Author: Moriyama, Kenji
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2011
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 26 pages 
651 4 |a Egypt, Arab Republic of 
653 |a Inflation 
653 |a Output gap 
653 |a Monetary economics 
653 |a Inflation targeting 
653 |a Deflation 
653 |a Production 
653 |a Monetary policy frameworks 
653 |a Disinflation 
653 |a Macroeconomics: Production 
653 |a Price Level 
653 |a Prices 
653 |a Macroeconomics 
653 |a Monetary policy 
653 |a Central Banks and Their Policies 
653 |a Economic theory 
653 |a Monetary Policy 
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653 |a Production and Operations Management 
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520 |a This paper investigates the degree of inflation inertia in Egypt and its determinants using the cross country data consisting of over 100 countries. Medium-unbiased estimator of inflation inertia in Egypt is high compared to other countries, as indicated by its location around the upper quartile among the sample. The cross country analysis indicates that counter-cyclical macroeconomic policy and fiscal consolidation are a key to reduce inflation inertia and the costs of disinflation