Inflation Dynamics in the Dominican Republic

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Price:  $15.00

Author/Editor: Olumuyiwa Adedeji, Oral Williams
Release Date: © February, 2004
ISBN : 978-1-45184-483-2
Stock #: WPIEA0292004
Stock Status: On back-order

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This paper investigates the determinants of inflation in the Dominican Republic during 1991-2002, a period characterized by remarkable macroeconomic stability and growth. By developing a parsimonious and empirically stable error-correction model using quarterly observations, the paper finds that inflation is explained by changes in monetary aggregates, real output, foreign inflation, and the exchange rate. Long-run relationships in the money and traded-goods markets are found to exist, but only the disequilibrium from the money market exerts a significant impact on inflation.


Economic policy , Inflation , Monetary policy

More publications in this series: Working Papers

More publications by: Olumuyiwa Adedeji ; Oral Williams