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Author/Editor:
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Kovanen, Arto
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Publication Date:
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July 01, 2004
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Electronic Access:
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Free Full text
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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 study examines the appropriateness of alternative intermediate monetary policy targets for Zimbabwe in light of the stability of the demand for money and the information content of financial variables for predicting price level movements. Results of the study indicate that a well-defined long-run demand relation exists for currency in circulation, but not for other monetary aggregates. Currency in circulation has strong information content for predicting future price level movements. The information content of other financial variables, such as the exchange rate and interest rates, is weaker. Statistical relationships break down of the outset of high inflation.
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Order a print copy
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Series:
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Working Paper No. 04/130
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Subject(s):
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Monetary policy | Zimbabwe | Demand for money | Inflation
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Author's Keyword(s):
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Monetary policy | demand for money | nominal anchors | and inflation |
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English
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Publication Date:
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July 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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WPIEA1302004
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Pages:
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40
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Price:
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US$15.00 )
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Please address any questions about this title to
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