{
  "title": "Money Demand and Inflation in Madagascar",
  "publication": "IMF Working Papers, December 1, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746",
  "overlayPath": "/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746/index.md",
  "summary": "This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in Madagascar during the period 1982-2004.",
  "sections": [
    {
      "heading": "Research scope and data",
      "content": "- Period analyzed: 1982-2004.\n- Data frequency: quarterly data.\n- Model: two-sector model and an error-correction model.\n- Author: Koffie Ben Nassar.\n- Series and identifiers:\n  - Working Paper No.: 2005/236\n  - Volume: 2005\n  - Issue: 236\n  - Pages: 25\n  - DOI: https://doi.org/10.5089/9781451862553.001\n  - Stock No: WPIEA2005236\n  - ISBN: 9781451862553\n  - ISSN: 1018-5941"
    },
    {
      "heading": "Key empirical findings",
      "content": "- The estimated model finds a stable long-run relationship among:\n  - monetary aggregates,\n  - domestic prices,\n  - real income, and\n  - foreign interest rates.\n- The error-correction model shows that changes in the following exert a significant impact on inflation:\n  - monetary aggregates,\n  - the exchange rate,\n  - foreign interest rates.\n- A disequilibrium in the money market has a lasting impact on inflation."
    },
    {
      "heading": "Policy implications and conclusions",
      "content": "- The paper concludes with policy recommendations aimed at addressing the linkages between money, the exchange rate, and inflation.\n- Subject areas relevant to policy discussions include:\n  - Demand for money,\n  - Exchange rate arrangements,\n  - Exchange rates,\n  - Inflation,\n  - Monetary base."
    },
    {
      "heading": "Keywords and topical focus",
      "content": "- Keywords: real GDP, WP\n\nSource: Koffie Ben Nassar, \"Money Demand and Inflation in Madagascar\", IMF Working Papers 2005, 236 (2005).\n\n---\n\n Content in this bundle\n\n- Money Demand and Inflation in Madagascar; Koffie Nassar; IMF Working Paper 05/236; December 1, 2005\n  - Money Demand and Inflation in Madagascar; Koffie Nassar; IMF Working Paper 05/236; December 1, 2005 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Money Demand and Inflation in Madagascar; Koffie Nassar; IMF Working Paper 05/236; December 1, 2005 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746/bundle-manifest.json)",
    "Authors: Koffie Ben Nassar",
    "Published: December 1, 2005",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451862553.001",
    "Period analyzed: 1982-2004.",
    "Data frequency: quarterly data.",
    "Model: two-sector model and an error-correction model.",
    "Author: Koffie Ben Nassar.",
    "Series and identifiers:",
    "The estimated model finds a stable long-run relationship among:",
    "The error-correction model shows that changes in the following exert a significant impact on inflation:",
    "A disequilibrium in the money market has a lasting impact on inflation.",
    "The paper concludes with policy recommendations aimed at addressing the linkages between money, the exchange rate, and inflation.",
    "Subject areas relevant to policy discussions include:",
    "Keywords: real GDP, WP",
    "**Money Demand and Inflation in Madagascar; Koffie Nassar; IMF Working Paper 05/236; December 1, 2005**"
  ],
  "related": [
    {
      "title": "Money Demand and Inflation in Madagascar; Koffie Nassar; IMF Working Paper 05/236; December 1, 2005",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2005/_wp05236.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2005/_wp05236.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2005/_wp05236.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746/index.md",
    "json": "/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/31/money-demand-and-inflation-in-madagascar-18746/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T18:22:25.961Z"
}