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Inflation dynamics in the Dominican Republic

Author: Oral Williams; Olumuyiwa S Adedeji; International Monetary Fund. Western Hemisphere Department,
Publisher: [Washington, D.C.] : International Monetary Fund, ©2004.
Series: IMF working paper, WP/04/29.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This paper investigates the determinants of inflation in the Dominican Republic during 1991-2002, a period characterized by remarkable macroeconomic stability and growth. By developing a parsimonious and empirically stable error-correction model using quarterly observations, the paper finds that inflation is explained by changes in monetary aggregates, real output, foreign inflation, and the exchange rate. Long-run  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Williams, Oral.
Inflation dynamics in the Dominican Republic.
[Washington, D.C.] : International Monetary Fund, ©2004
(OCoLC)55590204
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Oral Williams; Olumuyiwa S Adedeji; International Monetary Fund. Western Hemisphere Department,
ISBN: 1281090263 9781281090263
OCLC Number: 648559278
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. MiAaHDL
Description: 1 online resource (20 pages) : illustrations.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: IMF working paper, WP/04/29.
Responsibility: Oral Williams and Olumuyiwa S. Adedeji.

Abstract:

This paper investigates the determinants of inflation in the Dominican Republic during 1991-2002, a period characterized by remarkable macroeconomic stability and growth. By developing a parsimonious and empirically stable error-correction model using quarterly observations, the paper finds that inflation is explained by changes in monetary aggregates, real output, foreign inflation, and the exchange rate. Long-run relationships in the money and traded-goods markets are found to exist, but only the disequilibrium from the money market exerts a significant impact on inflation.

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