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Investigating Inflation Dynamics in Sudan

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  • Kenji Moriyama

Abstract

This paper investigates inflation dynamics in Sudan using three different approaches: the single equation model, the structural vector-auto regression model and a vector error correction model. This is the first study in a low-income and a post-conflict country that uses these three separate techniques to understand inflation dynamics. The use of these approaches is particularly useful to check the robustness of the estimated parameters in the model for a country with limited data coverage and possible structural breaks. The estimated results suggest that money supply growth and nominal exchange rate changes affect inflation with 18-24 months time lag.

Suggested Citation

  • Kenji Moriyama, 2008. "Investigating Inflation Dynamics in Sudan," IMF Working Papers 08/189, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:08/189
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    References listed on IDEAS

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    1. Nkunde Mwase, 2006. "An Empirical Investigation of the Exchange Rate Pass-Through to Inflation in Tanzania," IMF Working Papers 06/150, International Monetary Fund.
    2. Régis Barnichon & Shanaka J. Peiris, 2008. "Sources of Inflation in Sub-Saharan Africa," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 17(5), pages 729-746, November.
    3. Jonathan McCarthy, 2007. "Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized Economies," Eastern Economic Journal, Eastern Economic Association, vol. 33(4), pages 511-537, Fall.
    4. Darrel Cohen & Kevin Hassett & R. Glenn Hubbard, 1999. "Inflation and the User Cost of Capital: Does Inflation Still Matter?," NBER Chapters,in: The Costs and Benefits of Price Stability, pages 199-234 National Bureau of Economic Research, Inc.
    5. Alexei P Kireyev, 2001. "Financial Reforms in Sudan; Streamlining Bank Intermediation," IMF Working Papers 01/53, International Monetary Fund.
    6. Nikolay Gueorguiev, 2003. "Exchange Rate Pass-Through in Romania," IMF Working Papers 03/130, International Monetary Fund.
    7. Marco Rossi & Daniel Leigh, 2002. "Exchange Rate Pass-Through in Turkey," IMF Working Papers 02/204, International Monetary Fund.
    8. Rodolphe Blavy, 2004. "Inflation and Monetary Pass-Through in Guinea," IMF Working Papers 04/223, International Monetary Fund.
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    Cited by:

    1. Tidiane Kinda, 2013. "Oil windfall, public spending and price stability: modelling inflation in Chad†," Applied Economics, Taylor & Francis Journals, vol. 45(21), pages 3122-3135, July.
    2. Loening, Josef L. & Durevall, Dick & Ayalew Birru, Yohannes, 2009. "Inflation Dynamics and Food Prices in an Agricultural Economy: The Case of Ethiopia," Working Papers in Economics 347, University of Gothenburg, Department of Economics.
    3. Durevall, Dick & Loening, Josef L. & Ayalew Birru, Yohannes, 2013. "Inflation dynamics and food prices in Ethiopia," Journal of Development Economics, Elsevier, vol. 104(C), pages 89-106.
    4. Dick Durevall & Bo Sjö, 2012. "Working Paper 151 - The Dynamics of Inflation in Ethiopia and Kenya," Working Paper Series 400, African Development Bank.

    More about this item

    Keywords

    Economic models; Real effective exchange rates; Monetary policy; Money supply; Inflation; Sudan; nominal exchange rate; monetary fund; central bank; and monetary policy;

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