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Towards Inflation Targeting In Egypt
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Book Synopsis Towards Inflation Targeting in Egypt by : Hoda Abdel-Ghaffar Youssef
Download or read book Towards Inflation Targeting in Egypt written by Hoda Abdel-Ghaffar Youssef and published by . This book was released on 2007 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Towards Inflation Targeting in Egypt by : Hoda Abdel-Ghaffar Youssef
Download or read book Towards Inflation Targeting in Egypt written by Hoda Abdel-Ghaffar Youssef and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Inertia in Egypt and its Policy Implications by : Mr.Kenji Moriyama
Download or read book Inflation Inertia in Egypt and its Policy Implications written by Mr.Kenji Moriyama and published by International Monetary Fund. This book was released on 2011-07-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Is Egypt Willing to Embrace Inflation Targeting as a Framework for Its Monetary System? by : Maha Emad Khaled
Download or read book Is Egypt Willing to Embrace Inflation Targeting as a Framework for Its Monetary System? written by Maha Emad Khaled and published by . This book was released on 2019 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Targeting in Egypt by : Doaa Akl Ahmed
Download or read book Inflation Targeting in Egypt written by Doaa Akl Ahmed and published by LAP Lambert Academic Publishing. This book was released on 2014-05 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book What Drives Prices in Egypt? written by and published by Oxford University Press. This book was released on 2009 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Inflation Target as a Framework for Monetary Policy with Application to Egyptian Economy by : Shiref Fahmy Mohamed Shabana
Download or read book Inflation Target as a Framework for Monetary Policy with Application to Egyptian Economy written by Shiref Fahmy Mohamed Shabana and published by . This book was released on 2007 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Operational Framework for Inflation Targeting in Egypt by : Doaa Akl Ahmed Sayed Ahmed
Download or read book An Operational Framework for Inflation Targeting in Egypt written by Doaa Akl Ahmed Sayed Ahmed and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Monetary Transmission Mechanism in Egypt by : Rania A. Al-Mashat
Download or read book The Monetary Transmission Mechanism in Egypt written by Rania A. Al-Mashat and published by International Monetary Fund. This book was released on 2007-12 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Inflation Targeting in the Case of Egypt by : Diaa Mohamed Noureldin
Download or read book Inflation Targeting in the Case of Egypt written by Diaa Mohamed Noureldin and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Viability of a Fully Fledged Inflation Targeting Regime in Egypt by : Sarah Samy Farid
Download or read book The Viability of a Fully Fledged Inflation Targeting Regime in Egypt written by Sarah Samy Farid and published by . This book was released on 2018 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis What Drives Prices in Egypt? by : Hanaa Kheir-El-Din
Download or read book What Drives Prices in Egypt? written by Hanaa Kheir-El-Din and published by American University in Cairo Press. This book was released on 2009-10-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Inflation Targeting and Exchange Rate Regimes in a Small Open Economy by : Hoda Essam Selim
Download or read book Inflation Targeting and Exchange Rate Regimes in a Small Open Economy written by Hoda Essam Selim and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation targeting (IT) was introduced in the early 1990s. IT theory, emerged years later, and allows a response to the exchange rate, only insofar as the latter affects the inflation forecast. However, this conclusion does not seem well-adapted to EMEs who departed from the conventional IT regime by giving a large place to the exchange rate.The objective of this thesis is to revisit the role of the exchange rate under IT in EMEs. In the case of Egypt, the aim is to study whether the exchange rate would constrain IT implementation and why. In particular, the thesis empirically explores nominal exchange misalignments and exchange rate pass-through to inflation as possible rationales for exchange rate management. Additional issues are explored like the scope of sterilized intervention under floating regimes, “fear of floating” and estimating de facto exchange rate regimes.The results show that the Central Bank of Egypt continues to limit exchange changes, despite abandoning the exchange rate target in 2003. This is because nominal exchange rate misalignments tend to be persistent and the exchange rate pass-through to CPI inflation is large and increasing. This should not be an obstacle to IT since exchange rate management would be the means to low inflation. In due time, reforms and credibility gains should lead to a low inflationary environment, improve the workings of the flexible exchange rate regime and be conducive to less erratic exchange rate fluctuations with adverse domestic repercussions.
Book Synopsis Inflation Variations in Egypt by : Yassmina Rashad Helmi Abouelhassan
Download or read book Inflation Variations in Egypt written by Yassmina Rashad Helmi Abouelhassan and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Inflation variations has become an issue that impedes efficient resource allocation and inclusive growth in Egypt. High inflationary pressures negatively affect standards of living, poverty alleviation and finally markets' efficiency. For the past decade, Research on the causes of inflation in emerging markets has been closely linked to exchange rates pass-through (ERPT). This is due to its perceived impacts on import prices and terms of trade shocks, which lead to a pass-through effect to domestic inflation. This research aims to contribute to the literature by investigating ERPT in Egypt with a nonlinear Autoregressive distributed lag model (NARDL). Recent research on ERPT has shown that using NARDL has proven the existence of asymmetric effects of EPRT. The study uses quarterly time series data from 2006Q1-2020Q4 to examine the relationship between exchange rate movements and Inflation. For the purpose of the model, the methodology examines exchange rate and energy price movements' asymmetric effects on producer price inflation using a NARDL model. The findings revealed the following: (1) a weakly significant and symmetric ERPT in Egypt. (2) Inflation in Egypt is highly dependent on past values of itself or what the research calls "Built-in inflation". (3) a strong significant and asymmetric pass-through effect of energy prices. The implications of the findings put forth a need to move towards a fully-fledged inflation targeting regime with crucial complementary policies.
Book Synopsis Evolution of Monetary Policy in Egypt by : Ahmed Mabrouk
Download or read book Evolution of Monetary Policy in Egypt written by Ahmed Mabrouk and published by . This book was released on 2016 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation targeting (IT) has emerged in recent years as a leading framework for conducting monetary policy in order to attain price stability. Like many other developing countries, Egypt is now aspiring to introduce inflation targeting as a framework for its monetary policy. This research reviewed the evolution of monetary policy in Egypt during the last two decades, starting in early 1990s with the lunch of series of agreements' with IMF and world bank known as ERSAP, till 2010, the year prior to the rise of what's called the Arab spring. Additionally, we evaluated the IT experience in Egypt in terms of achieved goals and conducted institutional and monetary reforms. This research also drew some conclusions and formulated some policy recommendations for crucial monetary adjustments that Egypt should consider for the purpose of conducting IT.
Book Synopsis Estimating a Small Open-Economy Model for Egypt by : Arbatli, Elif C
Download or read book Estimating a Small Open-Economy Model for Egypt written by Arbatli, Elif C and published by . This book was released on 2011-05-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates a small open economy model for Egypt to analyze inflation, output dynamics and monetary policy during 2005-2010. The interest rate channel is found to be relatively weak in Egypt, complicating the use of interest rates as the immediate target of monetary policy. However, the paper also finds a significant level of persistence in the policy rate, making monetary policy pro-cyclical. More active use of interest rate policy, measures to improve domestic debt markets and a gradual move towards inflation targeting can help support a successful disinflation strategy for Egypt.
Book Synopsis Inflation Targeting in MENA Countries by : Mongi Boughzala
Download or read book Inflation Targeting in MENA Countries written by Mongi Boughzala and published by Springer. This book was released on 2011-07-26 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume assesses the current state of play for Middle East and North African countries, in the light of wider work on inflation targeting, and provides lessons from the evolution of monetary policy in Europe.
