Towards Inflation Targeting in Egypt PDF Download
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Author: Hoda Abdel-Ghaffar Youssef
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 56
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Book Description
This paper explores how the Stability and Growth Pact may cope with the future costs of population ageing in the European Union. Clearly, population ageing has forced countries to reform their pension systems, and will continue to do so, both by reducing the generosity of pension arrangements and by switching to funding rather than relying on pure pay-as-you go pension provision. We study how such reforms affect the room for adhering to the Pact, but also how the Pact may induce or hamper the incentives for reform. In our analysis we will draw on recent literature on the Pact and on the pensions and the ageing problem. We will also calibrate a simple model for addressing intergenerational equity.
Author: Hoda Abdel-Ghaffar Youssef
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 56
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Book Description
This paper explores how the Stability and Growth Pact may cope with the future costs of population ageing in the European Union. Clearly, population ageing has forced countries to reform their pension systems, and will continue to do so, both by reducing the generosity of pension arrangements and by switching to funding rather than relying on pure pay-as-you go pension provision. We study how such reforms affect the room for adhering to the Pact, but also how the Pact may induce or hamper the incentives for reform. In our analysis we will draw on recent literature on the Pact and on the pensions and the ageing problem. We will also calibrate a simple model for addressing intergenerational equity.
Author: Hoda Abdel-Ghaffar Youssef
Publisher:
ISBN: 9783843398015
Category :
Languages : en
Pages : 0
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Book Description
Author: Mr.Kenji Moriyama
Publisher: International Monetary Fund
ISBN: 1455297739
Category : Business & Economics
Languages : en
Pages : 27
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Book Description
This paper investigates the degree of inflation inertia in Egypt and its determinants using the cross country data consisting of over 100 countries. Medium-unbiased estimator of inflation inertia in Egypt is high compared to other countries, as indicated by its location around the upper quartile among the sample. The cross country analysis indicates that counter-cyclical macroeconomic policy and fiscal consolidation are a key to reduce inflation inertia and the costs of disinflation.
Author: Maha Emad Khaled
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 156
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Book Description
Author: Doaa Akl Ahmed
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659534966
Category :
Languages : en
Pages : 68
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Book Description
Inflation targeting is a monetary policy framework that attracted many countries in the 1990s as a result of the disappointing performance under other regimes, mainly exchange rates targeting or monetary aggregate targeting. Due to its success in many developed and developing countries, the Central Bank of Egypt announced its intention to introduce inflation targeting regime to anchor its monetary policy when the basic prerequisites are satisfied. The book outlines the theoretical justification behind choosing inflation targeting and discusses its advantages and disadvantages, as well as compares it with other monetary regimes. The core of the book is to investigate the applicability of inflation targeting regime in Egypt by examining the extent to which the conditions of that regime are met.
Author:
Publisher: Oxford University Press
ISBN: 9774163036
Category : Business & Economics
Languages : en
Pages : 263
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Book Description
Since 2004, economic reforms in Egypt have led to robust expansion, a healthy external position, and enhanced investor confidence. But despite these positive macroeconomic developments, inflation has been steadily rising. Does fiscal policy threaten price stability? Does wage growth in the Egyptian economy lead price inflation, or is it the reverse? In this volume, these and other questions are examined by contributors who participated in a conference held in Cairo in late 2007. Here is a coherent and comprehensive analysis of the factors driving prices in Egypt, in an attempt to find a satisfactory balance between prices and economic growth. While Egypt is the focus of the analysis, the papers draw upon the relevant literature, and international experience, the findings can be applied to other middle-income economies. This timely study helps to explain the complex issues facing economists and policymakers, with proposals for reform. Contributors: Hala Abou-Ali, Hala Fares, Omneia A. Helmy, Alaa Ibrahim, Hanaa Kheir-El-Din, Rania Al-Mashat, Diaa Noureldin, Klaus Schmidt-Hebbel, and Sherine Al-Shawarby.
Author: Shiref Fahmy Mohamed Shabana
Publisher:
ISBN:
Category : Egypt
Languages : en
Pages : 238
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Author: Doaa Akl Ahmed Sayed Ahmed
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The thesis focuses on the potential adoption of the inflation targeting (IT) regime in Egypt. Basically, it aimed at answering the following questions. (1) Should the central bank of Egypt shift to IT or continue with the current monetary policy framework, monetary aggregate targeting (MAT). (2) What the optimal policy horizon (OPH) should central bank choose to target inflation, (3) Does modelling inflation using models that allow for time-varying conditional variance, skewness and kurtosis helps in better understanding of inflation uncertainty? The main results of the thesis show that: (1) To answer the first question, the stability of velocity of money in circulation and money multiplier has been analysed using variance ratio tests and found unstable. Therefore, we could conclude that the current MAT framework cannot achieve its ultimate goal of price stability and it is believed that shifting to IT framework is highly recommended. (2) Concerning the OPH, the results show that the OPH is largely dependent on the nature of the shock and on a central bank's preferences over goals. Thus, for different kinds of the shocks, even if they are generally classified of the same type, the concern of the central bank about other policy objectives affects the policy horizon. With respect to shock persistence, the results demonstrate that the horizon increases with the persistence of the shock as persistent shock distributed over many period in comparison with transitory and less persistent shocks. (3) To answer the third question, the methodology proposed by Leon, Rubio, and Serna (2005) for modelling nonconstant conditional second, third and fourth moments is applied. The results indicate that models with nonconstant second, third and fourth moments are superior to models with time invariant volatility, skewness and kurtosis.
Author: Rania A. Al-Mashat
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
This paper examines the monetary transmission mechanism in Egypt against the background of the central bank's intention to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the channels are evaluated in a VAR model. The exchange rate channel plays a strong role in propagating monetary shocks to output and prices. Most other channels (bank lending, asset price) are rather weak. The interest rate channel is underdeveloped but appears to be strengthening since the introduction of the interest corridor in 2005, which bodes well for adopting inflation targeting over the medium term.
Author: Diaa Mohamed Noureldin
Publisher:
ISBN:
Category :
Languages : en
Pages :
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