Author: Shiref Fahmy Mohamed ShabanaPublisher:
ISBN:
Category : Egypt
Languages : en
Pages : 238
Book Description
Inflation Target as a Framework for Monetary Policy with Application to Egyptian Economy
Author: Shiref Fahmy Mohamed ShabanaPublisher:
ISBN:
Category : Egypt
Languages : en
Pages : 238
Book Description
Towards Inflation Targeting in Egypt
Author: Hoda Abdel-Ghaffar YoussefPublisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 56
Book Description
This paper explores how the Stability and Growth Pact may cope with the future costs of population ageing in the European Union. Clearly, population ageing has forced countries to reform their pension systems, and will continue to do so, both by reducing the generosity of pension arrangements and by switching to funding rather than relying on pure pay-as-you go pension provision. We study how such reforms affect the room for adhering to the Pact, but also how the Pact may induce or hamper the incentives for reform. In our analysis we will draw on recent literature on the Pact and on the pensions and the ageing problem. We will also calibrate a simple model for addressing intergenerational equity.
Inflation Inertia in Egypt and its Policy Implications
Author: Mr.Kenji MoriyamaPublisher: International Monetary Fund
ISBN: 1455297739
Category : Business & Economics
Languages : en
Pages : 27
Book Description
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.
Towards Inflation Targeting in Egypt
Author: Hoda Abdel-Ghaffar YoussefPublisher:
ISBN: 9783843398015
Category :
Languages : en
Pages : 0
Book Description
Inflation Targeting as a Framework for Monetary Policy
Author: Publisher:
ISBN:
Category : Anti-inflationary policies
Languages : en
Pages : 17
Book Description
Explains the requirements for putting a monetary policy in place, reviews the experience of the seven industrial countries that have tried it and discusses whether inflation targeting has a wider applicability to developing countries.
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1498344062
Category : Business & Economics
Languages : en
Pages : 74
Book Description
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
What Drives Prices in Egypt?
Author: Publisher: Oxford University Press
ISBN: 9774163036
Category : Business & Economics
Languages : en
Pages : 263
Book Description
Since 2004, economic reforms in Egypt have led to robust expansion, a healthy external position, and enhanced investor confidence. But despite these positive macroeconomic developments, inflation has been steadily rising. Does fiscal policy threaten price stability? Does wage growth in the Egyptian economy lead price inflation, or is it the reverse? In this volume, these and other questions are examined by contributors who participated in a conference held in Cairo in late 2007. Here is a coherent and comprehensive analysis of the factors driving prices in Egypt, in an attempt to find a satisfactory balance between prices and economic growth. While Egypt is the focus of the analysis, the papers draw upon the relevant literature, and international experience, the findings can be applied to other middle-income economies. This timely study helps to explain the complex issues facing economists and policymakers, with proposals for reform. Contributors: Hala Abou-Ali, Hala Fares, Omneia A. Helmy, Alaa Ibrahim, Hanaa Kheir-El-Din, Rania Al-Mashat, Diaa Noureldin, Klaus Schmidt-Hebbel, and Sherine Al-Shawarby.
The Monetary Transmission Mechanism in Egypt
Author: Rania A. Al-MashatPublisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 50
Book Description
This paper examines the monetary transmission mechanism in Egypt against the background of the central bank's intention to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the channels are evaluated in a VAR model. The exchange rate channel plays a strong role in propagating monetary shocks to output and prices. Most other channels (bank lending, asset price) are rather weak. The interest rate channel is underdeveloped but appears to be strengthening since the introduction of the interest corridor in 2005, which bodes well for adopting inflation targeting over the medium term.
The Scope for Inflation Targeting in Developing Countries
Author: Mr.Paul R. MassonPublisher: International Monetary Fund
ISBN: 145185515X
Category : Business & Economics
Languages : en
Pages : 54
Book Description
Inflation targeting (IT) serves as monetary policy framework in several advanced economies, where it has enhanced policy transparency and accountability. The paper considers its wider applicability to developing countries. The prerequisites for a successful IT framework are identified as an ability to carry out an independent monetary policy (free of fiscal dominance or commitment to another nominal anchor, like the exchange rate) and a quantitative framework linking policy instruments to inflation. These prerequisites are largely absent among developing countries, though several of them could with some further institutional changes and an overriding commitment to low inflation make use of an IT framework.
Conditionality in Evolving Monetary Policy Regimes
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1498343694
Category : Business & Economics
Languages : en
Pages : 61
Book Description
With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.