Inflation Dynamics in the Dominican Republic

Author/Editor: Oral Williams ; Olumuyiwa Adedeji
Publication Date: February 01, 2004
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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.
Series: Working Paper No. 04/29
Subject(s): Dominican Republic | Monetary policy | Inflation

Author's Keyword(s): Inflation | Cointegration | Error-Correction
Publication Date: February 01, 2004
ISBN/ISSN: 9781451844832/1018-5941 Format: Paper
Stock No: WPIEA0292004 Pages: 21
US$15.00 (Academic Rate:
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