Money demand and inflation in Madagascar
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Author
Contributions
- International Monetary Fund. African Dept. - Contributor
Publication
2005 - International Monetary Fund, African Dept., Washington, D.C., District of Columbia
Language
English
Word Count
5,750 words, Guess
Page Count
23 pages
Identifiers
- Better World Books9781452700717
- Better World Books9781451862553
- Better World Books9781451907919
- Open LibraryOL21419067M
Classifications
- LCCHG229
Description
This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in Madagascar during the period 1982-2004. The estimated model, using quarterly data, finds a stable long-run relationship among monetary aggregates, domestic prices, real income, and foreign interest rates. In addition, the error-correction model shows that changes in the monetary aggregates, the exchange rate, and foreign interest rates exert a significant impact on inflation. The results also suggest that a disequilibrium in the money market has a lasting impact on inflation. The paper concludes with policy recommendations.
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