Inflation Inertia in Egypt and its Policy Implications

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.
Publication date: July 2011
ISBN: 9781455297733
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Economics- Macroeconomics , Economics / General , International - Economics , inflation , monetary policy , central bank , inflation targeting , monetary policy framework , inflation target , distribution of inflation , high inflation , inflation dynamics , terms of trade , inflationary pressures , annual inflation , inflation data , monetary economics , aggr

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