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Food Shortages and the Transactions Demand for Money: The Case of Zimbabwe - Couverture souple

Ndedzu, Desmond

 
9783847309086: Food Shortages and the Transactions Demand for Money: The Case of Zimbabwe
Couverture souple
ISBN 10 : 3847309080 ISBN 13 : 9783847309086
Editeur : LAP LAMBERT Academic Publishing, 2011

Synopsis

The study estimates the transactions demand for money in Zimbabwe over the period 1980:Q1-2004:Q4 using quarterly time series data on money supply (M1), food shortage, real income, inflation, black market premium on the exchange rate, population, the return on the industrial index and the capital loss rate. A long run co-integration relationship among variables is found to exist with an error correction term indicating that economic agents will in the short run slowly adjust towards the long run equilibrium. We find that food shortages increase the demand for narrow money in Zimbabwe. Other factors such as inflation, population growth, income, the exchange rate and the return on the industrial index are also important determinants of the short run transactions holdings of money. There is also evidence of some structural instability in the transactions demand for money in Zimbabwe. In order to contain inflation due to food shortages, monetary authorities should consider tightening money supply during periods of shortage.

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Présentation de l'éditeur

The study estimates the transactions demand for money in Zimbabwe over the period 1980:Q1-2004:Q4 using quarterly time series data on money supply (M1), food shortage, real income, inflation, black market premium on the exchange rate, population, the return on the industrial index and the capital loss rate. A long run co-integration relationship among variables is found to exist with an error correction term indicating that economic agents will in the short run slowly adjust towards the long run equilibrium. We find that food shortages increase the demand for narrow money in Zimbabwe. Other factors such as inflation, population growth, income, the exchange rate and the return on the industrial index are also important determinants of the short run transactions holdings of money. There is also evidence of some structural instability in the transactions demand for money in Zimbabwe. In order to contain inflation due to food shortages, monetary authorities should consider tightening money supply during periods of shortage.

Biographie de l'auteur

Desmond Ndedzu, Bsc and MSc Economics,Studied at the University of Zimbabwe, Lecturer, University of Zimbabwe

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2011
Langue
anglais
ISBN 10 
3847309080
ISBN 13 
9783847309086
Reliure
Broché
Nombre de pages
92
Coordonnées du fabricant
non disponible
Personne responsable
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