Inflation in Emerging and Developing Economies

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Author :
Publisher : World Bank Publications
ISBN 13 : 1464813760
Total Pages : 513 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Inflation in Emerging and Developing Economies by : Jongrim Ha

Download or read book Inflation in Emerging and Developing Economies written by Jongrim Ha and published by World Bank Publications. This book was released on 2019-02-24 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.

Inflation Expectations

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Author :
Publisher : Routledge
ISBN 13 : 1135179778
Total Pages : 402 pages
Book Rating : 4.1/5 (351 download)

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Book Synopsis Inflation Expectations by : Peter J. N. Sinclair

Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.

Inflation

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Publisher : University of Chicago Press
ISBN 13 : 0226313255
Total Pages : 302 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Inflation by : Robert E. Hall

Download or read book Inflation written by Robert E. Hall and published by University of Chicago Press. This book was released on 2009-05-15 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the latest thoughts of a brilliant group of young economists on one of the most persistent economic problems facing the United States and the world, inflation. Rather than attempting an encyclopedic effort or offering specific policy recommendations, the contributors have emphasized the diagnosis of problems and the description of events that economists most thoroughly understand. Reflecting a dozen diverse views—many of which challenge established orthodoxy—they illuminate the economic and political processes involved in this important issue.

Drivers of Inflation

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Drivers of Inflation by : Estefania Cohn-Bech

Download or read book Drivers of Inflation written by Estefania Cohn-Bech and published by International Monetary Fund. This book was released on 2023-02-26 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though high and rising inflation has been a challenge for most economies across Europe in 2022 and into 2023, it has accelerated in Hungary to the highest level in Europe. This paper examines how and why Hungary reached historically high inflation. It draws on an augmented Phillips Curve to estimate the impact of common drivers of inflation, examines the role of labor market tightness and policy stances, and analyzes possible changes to the degree of exchange rate pass-through in recent years. Overall, a rapid recovery from the COVID-19 crisis, a series of exogenous shocks, and too loose a policy mix fueled inflation to its highest level in decades. Though monetary and fiscal policies are now tightening, regulatory price caps undermine those efforts. Going forward, a consistently and persistently tight overall policy mix is needed to drive inflation back to the central bank’s target.

Inflation

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Author :
Publisher :
ISBN 13 : 9781607418238
Total Pages : 0 pages
Book Rating : 4.4/5 (182 download)

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Book Synopsis Inflation by : Leon V. Schwartz

Download or read book Inflation written by Leon V. Schwartz and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. The term inflation once referred to increases in the money supply (monetary inflation); however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflation. Inflation can also be described as a decline in the real value of money -- a loss of purchasing power in the medium of exchange which is also the monetary unit of account. When the general price level rises, each unit of currency buys fewer goods and services. A chief measure of general price-level inflation is the general inflation rate, which is the percentage change in a general price index, normally the Consumer Price Index, over time. Inflation can have adverse effects on an economy. For example, uncertainty about future inflation may discourage investment and savings. High inflation may lead to shortages of goods if consumers begin hoarding out of concern that prices will increase in the future. Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply. This new important book gathers the latest research from around the globe on this issue.

The Great Inflation

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Author :
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Great Inflation by : Michael D. Bordo

Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

What Is Inflation, The Different Types Of Inflation, What Causes The Occurrence Of Inflation In The Economy, And How The Economy Is Affected By The Occurrence Of Inflation In The Economy

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Author :
Publisher : The Epic Books Of Dr. Harrison Sachs
ISBN 13 :
Total Pages : 73 pages
Book Rating : 4./5 ( download)

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Book Synopsis What Is Inflation, The Different Types Of Inflation, What Causes The Occurrence Of Inflation In The Economy, And How The Economy Is Affected By The Occurrence Of Inflation In The Economy by : Dr. Harrison Sachs

Download or read book What Is Inflation, The Different Types Of Inflation, What Causes The Occurrence Of Inflation In The Economy, And How The Economy Is Affected By The Occurrence Of Inflation In The Economy written by Dr. Harrison Sachs and published by The Epic Books Of Dr. Harrison Sachs. This book was released on 2022-02-19 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay sheds light on what is inflation, demystifies the different types of inflation, explicates what causes the occurrence of inflation in the economy, and expounds upon how the economy is affected by the occurrence of inflation in the economy. Succinctly stated, inflation is a term that delineates the loss of purchasing power of a fiat currency. The occurrence of inflation in the economy is characterized by the amplification of the prices of products and services. The occurrence of inflation in the economy adversely impinges on the purchasing power of the people who are apart of the indebted economic class. The occurrence of inflation in the economy can also adversely impact the standard of the people who are apart of the indebted economic class. The occurrence of inflation in the economy can also render it far more cumbersome for people to be able to generate enough revenue to be able to pay off their outstanding debts. The loss of purchasing power of a fiat currency also concomitantly devalues the purchasing power of the minimum wage. An annual increase to the minimum wage rate is often significantly lower than the annualized inflation rate. There are a myriad of disparate types of inflation. Some of the different types of inflation encompass “cost-push inflation, demand-pull inflation, and built-in inflation”. One type of inflation is demand-pull inflation. “The term demand-pull inflation describes a widespread phenomenon that occurs when consumer demand outpaces the available supply of many types of consumer goods. Demand-pull inflation occurs when demand for goods and services exceeds supply in the economy. While demand increases, the supply of goods and services available for purchase may remain the same or drop. An increase in aggregate demand can also lead to this type of inflation”. Aggregate customer demand for products can put an upward pressure on the prices of the products that are in high demand and short supply. If there is massive customer demand for the products of companies at their retail prices that are not produced in sizeable enough quantities to satisfy pent-up customer demand for them at their retail prices, then companies may be all the more inclined to raise the products of their products in order to further amplify their profit margin per product sold. When companies resort to raising the products of their products in order to further amplify their profit margin per product sold, then it can cause them to have amplified seller surplus on their sales of products. When companies resort to raising the products of their products in order to further amplify their profit margin per product sold, then it can also reduce the customer demand for their products in contexts in which the members of their target market are price-sensitive customers. When companies resort to raising the products of their products in order to further amplify their profit margin per product sold, then it can also cause their customers to have decreased customer surplus on their purchases of products. Another type of inflation is cost-push inflation. “Cost-push inflation, also known as wage-push inflation, occurs when overall prices increase due to increases in the cost of wages and raw materials. Higher costs of production can decrease the aggregate supply, or the amount of total production, in an economy. If demand for affected goods has not changed, the price increases from production are passed onto consumers creating cost-push inflation”. When companies incur amplified product manufacturing costs, then they are all the more inclined to resort to raising the products of their products in order to maintain their profit margin per product sold. If companies did not resort to raising the products of their products post incurring amplified product manufacturing costs, then it would culminate in their profit margin per product sold being decreased. Companies can decrease their product manufacturing costs by leveraging artificial intelligence-powered industrial robots to manufacture their products. Another type of inflation is built-in inflation. “Built-in inflation is related to adaptive expectations or the idea that people expect current inflation rates to continue in the future. As the price of goods and services rises, people may expect a continuous rise in the future at a similar rate”.

Dutch Inflation: Developments, Drivers, and the Risk of Wage-Price Spiral

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Dutch Inflation: Developments, Drivers, and the Risk of Wage-Price Spiral by : Saioa Armendariz

Download or read book Dutch Inflation: Developments, Drivers, and the Risk of Wage-Price Spiral written by Saioa Armendariz and published by International Monetary Fund. This book was released on 2023-03-13 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global inflation surged in 2022, driven by high gas price growth. With Russia being a key supplier of energy products, the start of the war in Ukraine has led to strong inflationary pressures in the euro area (EA), given the region’s significant exposure to the Russian gas. The price shock has been particularly strong in the Netherlands, largely due to the larger share of gas on the energy mix compared to other peers, making the country vulnerable to changing market conditions.

Inflation

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Author :
Publisher : Oelgeschlager
ISBN 13 :
Total Pages : 220 pages
Book Rating : 4.:/5 (44 download)

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Book Synopsis Inflation by : William A. Gale

Download or read book Inflation written by William A. Gale and published by Oelgeschlager. This book was released on 1981 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Causes, Costs and Compensations of Inflation

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 184720418X
Total Pages : 269 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis The Causes, Costs and Compensations of Inflation by : William Oliver Coleman

Download or read book The Causes, Costs and Compensations of Inflation written by William Oliver Coleman and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is difficult to give justice to this intriguing book within the confines of a short review. Ernst Juerg Weber, History of Economics Review Coleman s book provides an impressively clear, lively, and intuitive discussion of three of the most important issues in all of monetary economics. I recommend it highly to all readers with an interest in these issues. Peter N. Ireland, Journal of Economic Literature William Coleman s book offers a highly original and insightful discussion of the state of modern monetary theory. Professor Coleman covers difficult issues with a lightness of touch that makes for a very readable discussion. It will benefit students as well as professional economists and policymakers. Kevin Dowd, University of Nottingham, UK This book explores the causes, costs and benefits of inflation. It argues that while the cause of inflation is essentially monetary, the costs and benefits of inflation lie in inflation s distortion of the economy's responses to real shocks. The book begins by securing the Quantity Theory of Money from certain critiques. The theory is defended from the fiscal theory of the price level by a refinement of the theory of money demand, and from post Keynesianism by the construction of a theory of the supply of inside money. To cope with the endogeneity of outside money, a simple and tractable neo-Wicksellian theory of inflation is advanced, which is shown to exhibit a striking homology with the Quantity Theory. The author then traces the costliness of inflation, not to any disturbance of the money market, but to the damage inflation does to the bond market s function of sharing out disturbances to consumption caused by technological shocks. The same damage, however, imparts an egalitarian dynamic to the accumulation of wealth, which will not occur without risky inflation. The Causes, Costs and Compensations of Inflation will be of great interest to policy makers, central bankers, researchers, and both post-graduate and undergraduate students in macroeconomics, money and banking.

Domestic and External Drivers of Inflation

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Domestic and External Drivers of Inflation by : Mr. Jean-Claude Nachega

Download or read book Domestic and External Drivers of Inflation written by Mr. Jean-Claude Nachega and published by International Monetary Fund. This book was released on 2024-02-15 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the drivers of headline inflation and the degree of exchange rate passthrough (ERPT) in The Gambia over the period 2014-2023. The analysis highlights the decisive long-term roles of global prices of commodities (food, oil and fertilizer), the exchange rate, and the domestic output gap. The short-run dynamics of inflation points to the roles of global food price and the second-round effects of changes in food prices and the output gap. Monetary policy has the potential to tame inflation in the short run provided the monetary policy rate is adjusted rapidly and boldly. Lastly, there is evidence of an asymmetric ERPT to domestic prices, and the size of currency depreciation matters for inflation dynamics.

On the Drivers of Inflation in Sub-Saharan Africa

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513524801
Total Pages : 28 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis On the Drivers of Inflation in Sub-Saharan Africa by : Anh D. M. Nguyen

Download or read book On the Drivers of Inflation in Sub-Saharan Africa written by Anh D. M. Nguyen and published by International Monetary Fund. This book was released on 2015-08-05 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The perception that inflation dynamics in Sub-Saharan Africa (SSA) are driven by supply shocks implies a limited role for monetary policy in influencing inflation in the short run. SSA’s rapid growth, its integration with the global economy, changes in the policy frameworks, among others, in the last decade suggest that the drivers of inflation may have changed. We quantitatively analyze inflation dynamics in SSA using a Global VAR model, which incorporates trade and financial linkages among economies, as well as the role of regional and global demand and inflationary spillovers. We find that in the past 25 years, the main drivers of inflation have been domestic supply shocks and shocks to exchange rate and monetary variables; but that, in recent years, the contribution of these shocks to inflation has fallen. Domestic demand pressures as well as global shocks, and particularly shocks to output, however, have played a larger role in driving inflation over the last decade. We also show that country characteristics matter—the extent of oil and food imports, vulnerability to weather shocks, economic importance of agriculture, trade openness and policy regime, among others, help in explaining the role of shocks.

On the Drivers of Inflation in Sub-Saharan Africa

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513583018
Total Pages : 28 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis On the Drivers of Inflation in Sub-Saharan Africa by : Anh D. M. Nguyen

Download or read book On the Drivers of Inflation in Sub-Saharan Africa written by Anh D. M. Nguyen and published by International Monetary Fund. This book was released on 2015-08-05 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The perception that inflation dynamics in Sub-Saharan Africa (SSA) are driven by supply shocks implies a limited role for monetary policy in influencing inflation in the short run. SSA’s rapid growth, its integration with the global economy, changes in the policy frameworks, among others, in the last decade suggest that the drivers of inflation may have changed. We quantitatively analyze inflation dynamics in SSA using a Global VAR model, which incorporates trade and financial linkages among economies, as well as the role of regional and global demand and inflationary spillovers. We find that in the past 25 years, the main drivers of inflation have been domestic supply shocks and shocks to exchange rate and monetary variables; but that, in recent years, the contribution of these shocks to inflation has fallen. Domestic demand pressures as well as global shocks, and particularly shocks to output, however, have played a larger role in driving inflation over the last decade. We also show that country characteristics matter—the extent of oil and food imports, vulnerability to weather shocks, economic importance of agriculture, trade openness and policy regime, among others, help in explaining the role of shocks.

Inflation--causes, Consequences, and Cures

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Author :
Publisher : Bloomington : Indiana University Press
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Inflation--causes, Consequences, and Cures by : George Wilton Wilson

Download or read book Inflation--causes, Consequences, and Cures written by George Wilton Wilson and published by Bloomington : Indiana University Press. This book was released on 1982 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Inflation Dynamics in Asia

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1463923961
Total Pages : 22 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis Inflation Dynamics in Asia by : Ms.Carolina Osorio

Download or read book Inflation Dynamics in Asia written by Ms.Carolina Osorio and published by International Monetary Fund. This book was released on 2011-11-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The perception that Asia's inflation dynamics is driven by idiosyncratic supply shocks implies, as a corollary, that there is little scope for a policy reaction to a build-up of inflationary pressures. However, Asia's fast growth and integration over the last two decades suggest that the drivers of inflation may have changed, and that domestic demand pressures may now play a larger role than in the past. This paper presents a quantitative analysis of inflation dynamics in Asia using a Global VAR (GVAR) model, which explicitly incorporates the role of regional and global spillovers in driving Asia's inflation. Our results suggest that over the past two decades the main drivers of inflation in Asia have been monetary and supply shocks, but also that, in recent years, the contribution of these shocks has fallen, whereas demand-side pressures have started to emerge as an important contributor to inflation in Asia.

The Drivers of Market-based Inflation Expectations in the Euro Area and in the US

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Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (144 download)

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Book Synopsis The Drivers of Market-based Inflation Expectations in the Euro Area and in the US by : Christian Hoynck

Download or read book The Drivers of Market-based Inflation Expectations in the Euro Area and in the US written by Christian Hoynck and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Drivers of Inflation Convergence Across Countries

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)

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Book Synopsis Drivers of Inflation Convergence Across Countries by : Hakan Yilmazkuday

Download or read book Drivers of Inflation Convergence Across Countries written by Hakan Yilmazkuday and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: