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Suppressed inflation and money demand in Zimbabwe /

The paper investigates the divergence between inflation and monetary expansion in Zimbabwe since late 2003. The substantial decline in velocity and increasing levels of real money balances during 2004 are at odds with a record of inflation closely tracking the growth rates of monetary aggregates in...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Muñoz, Sònia (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Harare] : International Monetary Fund, January 2006.
Colección:IMF working paper ; WP/06/15.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Muñoz, Sònia,  |e author. 
245 1 0 |a Suppressed inflation and money demand in Zimbabwe /  |c Sònia Muñoz. 
264 1 |a [Harare] :  |b International Monetary Fund,  |c January 2006. 
300 |a 1 online resource (18 pages) :  |b color illustrations 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper ;  |v WP/06/15 
504 |a Includes bibliographical references. 
588 0 |a Online resource; title from pdf page; viewed on 2019-10-29. 
505 0 |a Contents -- I. INTRODUCTION -- II. STYLIZED FACTS -- III. ESTIMATING A MONEY DEMAND EQUATION -- IV. INFLUENCE OF EXOGENOUS FACTORS ON VELOCITY MOVEMENTS -- V. CONCLUSION -- REFERENCES 
520 |a The paper investigates the divergence between inflation and monetary expansion in Zimbabwe since late 2003. The substantial decline in velocity and increasing levels of real money balances during 2004 are at odds with a record of inflation closely tracking the growth rates of monetary aggregates in the past. Possible explanations for the divergence include an unstable demand for money, a sudden shift in the underlying demand for real balances due to a sharp change in an explanatory variable, and a structural break or aberration in a normally stable money demand relation reflecting some unexplained factor such as repressed inflation (given administered prices) or measurement errors in the consumer price index. The results of the study point to the last possibility as the most likely explanation. 
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650 0 |a Inflation (Finance)  |z Zimbabwe. 
650 6 |a Inflation  |z Zimbabwe. 
650 7 |a Demand for money  |2 fast 
650 7 |a Inflation (Finance)  |2 fast 
651 7 |a Zimbabwe  |2 fast 
830 0 |a IMF working paper ;  |v WP/06/15. 
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