{"id":22537,"date":"2008-06-10T08:47:00","date_gmt":"2008-06-10T08:47:00","guid":{"rendered":"https:\/\/eces.org.eg\/?p=22537"},"modified":"2024-05-28T07:21:58","modified_gmt":"2024-05-28T07:21:58","slug":"monetary-policy-in-egypt-a-retrospective-and-preparedness-for-inflation-targeting","status":"publish","type":"post","link":"https:\/\/eces.org.eg\/en\/monetary-policy-in-egypt-a-retrospective-and-preparedness-for-inflation-targeting\/","title":{"rendered":"Monetary Policy in Egypt: A Retrospective and Preparedness for Inflation Targeting"},"content":{"rendered":"\n<p><strong>Abstract:<\/strong><\/p>\n\n\n\n<p>The Central Bank of Egypt (CBE) has taken serious steps to develop its monetary policy framework with the intention to adopt inflation targeting (IT) over the medium term. Against this background, this paper examines the inflation dynamics in Egypt by estimating monetary models. The empirical findings suggest that the money gap model based on domestic liquidity outperforms other model specifications and better captures the inflation dynamics. Moreover, in light of the banking reform program undertaken by the CBE in 2004 and taking into account the experiences of other emerging market inflation targeters, the paper assesses and contrasts Egypt\u2019s preparedness for IT. From the analysis, it appears that there is nothing inherent in Egypt\u2019s economy that would disqualify it from adopting an IT framework, notwithstanding a few areas of improvement such as consolidating the fiscal position and improving the macroeconomic database.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abstract: The Central Bank of Egypt (CBE) has taken serious steps to develop its monetary policy framework with the intention to adopt inflation targeting (IT) over the medium term. Against this background, this paper examines the inflation dynamics in Egypt by estimating monetary models. The empirical findings suggest that the money gap model based on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":33892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65],"tags":[],"class_list":["post-22537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-working-papers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Monetary Policy in Egypt: A Retrospective and Preparedness for Inflation Targeting - ECES<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eces.org.eg\/en\/monetary-policy-in-egypt-a-retrospective-and-preparedness-for-inflation-targeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monetary Policy in Egypt: A Retrospective and Preparedness for Inflation Targeting - ECES\" \/>\n<meta property=\"og:description\" content=\"Abstract: The Central Bank of Egypt (CBE) has taken serious steps to develop its monetary policy framework with the intention to adopt inflation targeting (IT) over the medium term. Against this background, this paper examines the inflation dynamics in Egypt by estimating monetary models. 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