{
  "title": "Inflation and Monetary Pass-Through in Guinea",
  "publication": "IMF Working Papers, December 1, 2004",
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  "summary": "The paper analyzes the dynamics of inflation in Guinea during 1992-2003 applying cointegration and error-correction modeling to a bivariate model that includes consumer price and monetary variables.",
  "sections": [
    {
      "heading": "Overview and methodology",
      "content": "- Analysis period: 1992-2003.\n- Data frequency: quarterly data.\n- Model: bivariate model that includes consumer price and monetary variables.\n- Econometric approach: cointegration and error-correction modeling; vector error correction and impulse response analysis."
    },
    {
      "heading": "Key empirical findings",
      "content": "- The empirical results confirm the existence of a long-run relationship between money supply and consumer prices.\n- The pass-through from money to consumer prices has increased in recent years.\n- Short-term dynamics accentuate the long-run impact of monetary changes on consumer prices.\n- Impulse response analysis: a shock in the money stock will have an increasing impact over two years and will then stabilize at a higher level."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Consumer price indexes, Consumer prices, Demand for money, Inflation, Monetary base, Money, Prices.\n- Keywords: cointegration, consumer price index market basket, Consumer price indexes, consumer price inflation, Consumer prices, Demand for money, error correction model, error-correction modeling, Guinea, inflation, inflation equation, inflation expectation, inflation inertia, inflation variable, Monetary base, money growth, money supply, money-inflation relationship, price level, Sub-Saharan Africa, vector error correction, WP.\n\n---\n\n Content in this bundle\n\n- wp04223\n  - wp04223 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp04223 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/inflation-and-monetary-pass-through-in-guinea-17817"
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    "Authors: Rodolphe Blavy",
    "Published: December 1, 2004",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451875324.001",
    "Analysis period: 1992-2003.",
    "Data frequency: quarterly data.",
    "Model: bivariate model that includes consumer price and monetary variables.",
    "Econometric approach: cointegration and error-correction modeling; vector error correction and impulse response analysis.",
    "The empirical results confirm the existence of a long-run relationship between money supply and consumer prices.",
    "The pass-through from money to consumer prices has increased in recent years.",
    "Short-term dynamics accentuate the long-run impact of monetary changes on consumer prices.",
    "Impulse response analysis: a shock in the money stock will have an increasing impact over two years and will then stabilize at a higher level.",
    "Subject: Consumer price indexes, Consumer prices, Demand for money, Inflation, Monetary base, Money, Prices.",
    "Keywords: cointegration, consumer price index market basket, Consumer price indexes, consumer price inflation, Consumer prices, Demand for money, error correction model, error-correction modeling, Guinea, inflation, inflation equation, inflation expectation, inflation inertia, inflation variable, Monetary base, money growth, money supply, money-inflation relationship, price level, Sub-Saharan Africa, vector error correction, WP.",
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