An Econometric Analysis of Inflation in Sierra Leone1

Kallon, Kelfala M.

doi:10.1093/oxfordjournals.jae.a036804

Cited by 19 publications

(21 citation statements)

References 6 publications

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“…In Nigeria, many known researchers have identified the contemporary relationship between balance of payment and other macro-economics monetary variables, however this study will also want to establish if such relationship still exist and it direction. This study adopts the general framework of balance of payment (BOP) as described by Kallon (1994), and the money supply equation by Johnson (1976).…”

Section: Model Specificationmentioning

confidence: 99%

Empirical Analysis of Balance of Payment Adjustment Mechanisms: Monetary Channel in Nigeria, 1970– 2010

Tijani¹

2014

MJSS

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Section: Model Specificationmentioning

confidence: 99%

Empirical Analysis of Balance of Payment Adjustment Mechanisms: Monetary Channel in Nigeria, 1970– 2010

Tijani¹

2014

MJSS

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“…A very important approach to the balance of payments is developed by Kallon (1994). Kallon (1994) described the general framework of the balance of payments.…”

Section: Theoretical Approachmentioning

confidence: 99%

“…Kallon (1994) described the general framework of the balance of payments. The simple open economy LM model is employed in order to derive the long-run balance of payments equation.…”

Section: Theoretical Approachmentioning

confidence: 99%

“…According to Kallon (1994), the balance of payments equilibrium depends on real income ( t Y ), relative price of imported goods ( m t P ) and the differential between domestic interest rate and the summation of foreign interest rate and expected change in the exchange rate. The balance of payments equilibrium is specified as follows:…”

Section: Theoretical Approachmentioning

confidence: 99%

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Macroeconomic Determinants of Balance of Payments in Namibia

Eita¹,

Gaomab²

2012

IJBM

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This paper investigates macroeconomic determinants of the balance of payments in Namibia for the period 1999 to 2009. The investigation was conducted through cointegrated vector autoregression methods. The investigation reveals that fiscal balance, GDP and interest rate are the main determinants of balance of payments in Namibia. Increase in GDP and interest rate causes an improvement in the balance of payments. The positive effect of GDP on balance of payments suggests that expansion of export has a positive impact on current account and the overall balance of payments. More increased export potential through the development of new products and services should be encouraged. The positive impact of interest rate on balance of payments suggests that interest rate can be used as a policy tool to ensure favourable capital account and for improved balance of payments. An improvement in the fiscal balance is also associated with an improvement in the balance of payments. This implies that policymakers need to assess the forecast of SACU receipts in order to ensure readiness proactively when these receipts decline to avoid a possible macroeconomic, fiscal and balance of payments instability.

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“…Stigler & Prakash (2011) have examined time series properties of commodity prices using 24 commodities for developed countries. There is a lack of evidence of I(d) behaviour for food inflation rates for developing countries (Kallon, 1994;Moriyama & Naseer, 2009). Studies such as Gilbert (2010), Cooke (2009), Leoning, Durevall, & Birru (2009), Walsh (2011), Sumlinski, Al-Eyd, Amaglobeli, & Shukurov (2012 focused food price dynamics in African countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Is Food Price Inflation Transitory? Empirical Evidence from Sri Lanka

Sivarajasingham¹,

Applanaidu²

2015

ASS

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Food prices are excluded from core measures of inflation in many countries assuming food prices are transitory. Exclusion of food prices may lead to information loss, leading to higher inflationary expectations, a downward bias to forecasts of future inflation and lags in policy responses. Assumption that log food price series behave by way of I(1) and differenced log food price series linger in the manner of I(0) process leads to model misspecification. Correct identification of the memory in the food price series is vital for the correct model specification and is important for policy makers. This study aims to examine whether food price inflation is transitory in Sri Lanka by estimating the memory properties of food price series using non-parametric, semi-parametric and parametric tests. The study covers the period from January, 2003 to December, 2013. Results show that food price inflation, nonfood price inflation and headline inflation, and global food price inflation series are fractionally integrated. Food price series in Sri Lanka commoves with global food prices. Research findings show that food price inflation is not transitory, long memory series. The outcomes of this attempt have consequential implications towards food policy, trade policy and monetary policy makers. These findings suggest that neglecting food prices may render the core inflation measure a biased measure of long run inflation.

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An Econometric Analysis of Inflation in Sierra Leone1

Cited by 19 publications

References 6 publications

Empirical Analysis of Balance of Payment Adjustment Mechanisms: Monetary Channel in Nigeria, 1970– 2010

Empirical Analysis of Balance of Payment Adjustment Mechanisms: Monetary Channel in Nigeria, 1970– 2010

Macroeconomic Determinants of Balance of Payments in Namibia

Is Food Price Inflation Transitory? Empirical Evidence from Sri Lanka

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