## Inflation and Monetary Pass-Through in Guinea

_IMF Working Papers, December 1, 2004_

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**Canonical URL:** [Inflation and Monetary Pass-Through in Guinea](https://www.imf.org/en/publications/wp/issues/2016/12/31/inflation-and-monetary-pass-through-in-guinea-17817)

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## Bibliographic details
- Authors: Rodolphe Blavy
- Published: December 1, 2004
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451875324.001

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### Overview and methodology
- 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.

### Key empirical findings
- 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.

### Subjects and keywords
- 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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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/inflation-and-monetary-pass-through-in-guinea-17817_