Determinants of Inflation in GCC

Inflationary pressures have heightened in the oil-rich Gulf Cooperation Council (GCC) since 2003. This paper studies determinants of inflation in GCC, using an empirical model that includes domestic and external factors. Inflation in major trading partners appears to be the most relevant foreign factor. In addition, oil revenues have reinforced inflationary pressures through growth of credit and aggregate spending. In the short-run, binding capacity constraints also explain higher inflation given increased government spending. Nonetheless, by targeting supply-side bottlenecks, the increase in

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Year of publication:	2009
Authors:	Kandil, Magda E.
Other Persons:	Morsy, Hanan (contributor)
Publisher:	Washington : International Monetary Fund
Subject:	Schock \| Shock \| Exchange Rate Pass-Through \| Exchange rate pass-through \| Inflation \| Arabische Golf-Staaten \| Gulf countries \| Außenwirtschaftstheorie \| International economics

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Extent:	Online-Ressource (35 p)
Series:	IMF Working Papers IMF working paper ; WP/09/82
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Cover; Contents; I. Introduction; II. Literature Review; III. Econometric Methodology; Text Tables; 1. Cointegration Test for Inflation Equation; IV. Data and Estimation; 2. Vector Error Correction Estimates: Lon Run Equation; V. Extensions; VI. Conclusions; References; Appendix Figure 1. Impulse Response; Appendix Tables; 1. Bahrain: Vector Error Correction Estimates; 2. Kuwait: Vector Error Correction Estimates; 3. Oman: Vector Error Correction Estimates; 4. Qatar: Vector Error Correction Estimates; 5. Saudi Arabia: Vector Error Correction Estimates 6. United Arab Emirates: Vector Error Correction Estimates7. Variance Decomposition p; 8. Bahrain: Vector Error Correction Estimates; 9. Kuwait: Vector Error Correction Estimates; 10. Oman: Vector Error Correction Estimates; 11. United Arab Emirates: Vector Error Correction Estimates
ISBN:	978-1-4518-7229-3 ; 978-1-4519-9836-8 ; 978-1-4518-7229-3
Source:	ECONIS - Online Catalogue of the ZBW

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