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Author/Editor:
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Williams, Oral ; Adedeji, Olumuyiwa
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Publication Date:
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February 01, 2004
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Electronic Access:
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Free Full text
(PDF file size is 286KB).
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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
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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 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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Order a print copy
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Series:
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Working Paper No. 04/29
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Subject(s):
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Inflation | Dominican Republic | Economic models
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Author's Keyword(s):
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Inflation | Cointegration | Error-Correction |
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English
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Publication Date:
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February 01, 2004
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ISBN/ISSN:
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1934-7073
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Format:
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Paper
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Stock No:
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WPIEA0292004
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Pages:
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20
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Price:
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US$15.00 )
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Please address any questions about this title to
publications@imf.org
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