Zimbabwe: A Quest for a Nominal Anchor
This study examines the appropriateness of alternative intermediate monetary policy targets for Zimbabwe in light of the stability of the demand for money and the information content of financial variables for predicting price level movements. Results of the study indicate that a well-defined long-r...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2004
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Schriftenreihe: | IMF Working Papers
Working Paper No. 04/130 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | This study examines the appropriateness of alternative intermediate monetary policy targets for Zimbabwe in light of the stability of the demand for money and the information content of financial variables for predicting price level movements. Results of the study indicate that a well-defined long-run demand relation exists for currency in circulation, but not for other monetary aggregates. Currency in circulation has strong information content for predicting future price level movements. The information content of other financial variables, such as the exchange rate and interest rates, is weaker. Statistical relationships break down of the outset of high inflation |
Beschreibung: | 1 Online-Ressource (41 p) |
ISBN: | 1451855222 9781451855227 |
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spelling | Kovanen, Arto Verfasser aut Zimbabwe A Quest for a Nominal Anchor Kovanen, Arto Washington, D.C International Monetary Fund 2004 1 Online-Ressource (41 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 04/130 This study examines the appropriateness of alternative intermediate monetary policy targets for Zimbabwe in light of the stability of the demand for money and the information content of financial variables for predicting price level movements. Results of the study indicate that a well-defined long-run demand relation exists for currency in circulation, but not for other monetary aggregates. Currency in circulation has strong information content for predicting future price level movements. The information content of other financial variables, such as the exchange rate and interest rates, is weaker. Statistical relationships break down of the outset of high inflation Online-Ausg http://elibrary.imf.org/view/IMF001/08053-9781451855227/08053-9781451855227/08053-9781451855227.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Kovanen, Arto Zimbabwe A Quest for a Nominal Anchor |
title | Zimbabwe A Quest for a Nominal Anchor |
title_auth | Zimbabwe A Quest for a Nominal Anchor |
title_exact_search | Zimbabwe A Quest for a Nominal Anchor |
title_exact_search_txtP | Zimbabwe A Quest for a Nominal Anchor |
title_full | Zimbabwe A Quest for a Nominal Anchor Kovanen, Arto |
title_fullStr | Zimbabwe A Quest for a Nominal Anchor Kovanen, Arto |
title_full_unstemmed | Zimbabwe A Quest for a Nominal Anchor Kovanen, Arto |
title_short | Zimbabwe |
title_sort | zimbabwe a quest for a nominal anchor |
title_sub | A Quest for a Nominal Anchor |
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