Inflation Inertia in Egypt and its Policy Implications
AbstractThis 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.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 11/160.
Date of creation: 01 Jul 2011
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-22 (All new papers)
- NEP-ARA-2011-08-22 (MENA - Middle East & North Africa)
- NEP-CBA-2011-08-22 (Central Banking)
- NEP-MAC-2011-08-22 (Macroeconomics)
- NEP-MON-2011-08-22 (Monetary Economics)
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