This paper analyses the dynamics of inflation in Kenya during 1974–96, a period characterized by external shocks and … exchange rate, foreign prices, and terms of trade have long-run effects on inflation, while the money supply and interest rate … only have short-run effects. The dynamics of inflation are also found to be influenced by food supply constraints. Moreover …

This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money …

money demand functions. Notably, it summarizes the salient features of a number of recent studies that applied cointegration …

-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic error-correction models are specified …

-induced inflation anticipations that are typical to Guyana …

income elasticity of less than unity. Current inflation is found to have a significant negative impact on the real money …

In a case study of Burundi, Kenya, Rwanda, Tanzania, and Uganda, this paper finds that bilateral real exchange rates … growth prospects, the paper emphasizes the importance of increased trade, competitive labor markets, flexible exchange rates …