Inflation Dynamics and Food Prices in an Agricultural Economy : The Case of Ethiopia

Ethiopia has experienced a historically unprecedented increase in inflation, mainly driven by cereal price inflation, which is among the highest in Sub-Saharan Africa. Using monthly data from the past decade, the authors estimate error correction m...

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Bibliographic Details
Main Authors:	Loening, Josef L., Durevall, Dick, Birru, Yohannes A.
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ADVERSE EFFECTS AGGREGATE DEMAND AGRICULTURAL OUTPUT AGRICULTURAL PRICES AGRICULTURE ANNUAL GROWTH ARBITRAGE ASSETS BALANCE OF PAYMENTS BANKING SYSTEM BARTER BLACK MARKET BLACK MARKET EXCHANGE RATE BUSINESS CYCLES CAPITAL ACCOUNT CAPITAL FLOWS CAPITAL GOODS CAPITAL INFLOWS CAPITAL MARKETS CENTRAL BANK CEREAL PRICE CEREAL PRICES CHOW TESTS CLOSED ECONOMY COFFEE PRICES COMMERCIAL BANK COMMERCIAL BANKS COMMERCIALIZATION COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES COMPETITIVENESS CONSUMER BASKET CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER PRICES CONSUMPTION EXPENDITURE CORRELATION COEFFICIENT CURRENCY DEPRECIATION CURRENCY SUBSTITUTION DEFLATION DEMAND ANALYSIS DEMAND FUNCTION DEPOSIT DEPOSITS DEPRECIATION DEVALUATIONS DISCOUNT RATES DISEQUILIBRIUM DOLLAR EXCHANGE RATE DOMESTIC CURRENCY DOMESTIC DEMAND DOMESTIC GOODS DOMESTIC INFLATION DOMESTIC INVESTORS DOMESTIC MARKET DOMESTIC PRICE DOMESTIC PRICE LEVEL DOMESTIC PRICES DUMMY VARIABLE DUMMY VARIABLES DURABLE GOODS ECONOMETRIC MODEL ECONOMIC GROWTH ENDOGENOUS VARIABLE ENERGY PRICE ENERGY PRICES EQUILIBRIUM LEVEL EQUILIBRIUM PRICES ERROR CORRECTION MODELS ERROR CORRECTION TERM ERROR CORRECTION TERMS EURO EXCHANGE RATE EXCESS DEMAND EXCESS LIQUIDITY EXCESS SUPPLY EXCHANGE RATE EXCHANGE RATE CHANNEL EXCHANGE RATE POLICIES EXCHANGE RATE POLICY EXOGENOUS SHOCK EXPENDITURE EXPLANATORY VARIABLE EXPLANATORY VARIABLES EXPORT COMPETITIVENESS EXTERNAL FACTORS EXTERNAL MARKETS FACE VALUE FINANCIAL MARKETS FISCAL POLICIES FIXED EXCHANGE RATE FIXED RATE FLOATING EXCHANGE RATE FOOD PRICE FOOD PRICES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE RATE FOREIGN EXCHANGE RESERVES FOREIGN RESERVES FUTURE INFLATION GDP GROWTH RATE GROWTH RATES HIGH INFLATION IMBALANCES IMPORT IMPORT PRICE IMPORTS INCOME INDEXATION INFLATION INFLATION DYNAMICS INFLATION EXPECTATIONS INFLATIONARY EXPECTATIONS INTEREST RATE INTEREST RATES INTERMEDIATE GOODS INTERMEDIATE PRODUCTS INTERNATIONAL CAPITAL MARKETS INTERNATIONAL MARKET INTERNATIONAL PRICES INTERNATIONAL TRADE INVESTMENT OPPORTUNITIES LOCAL CURRENCY LONG-RUN EQUILIBRIUM LOW INTEREST RATES LOW-INCOME COUNTRIES MACROECONOMIC PERFORMANCE MACROECONOMIC POLICY MARKET CONDITIONS MARKET DISTORTIONS MARKET EQUILIBRIUM MARKET INTEGRATION MARKET PRICES MARKET SHARE MARKET STRUCTURE MARKETING MICROECONOMIC ANALYSIS MONETARY POLICIES MONETARY POLICY MONETARY TRANSMISSION MONEY DEMAND MONEY DEMAND FUNCTION MONEY HOLDINGS MONEY MARKET MONEY MARKETS MONEY STOCK MONEY SUPPLY NATIONAL BANK NOMINAL EXCHANGE RATE OIL PRICE OIL PRICE INFLATION OPEN ECONOMY OUTPUT GAP PARALLEL EXCHANGE RATE PARALLEL MARKET PARALLEL MARKET RATE PHILLIPS CURVE POVERTY REDUCTION PRICE ADJUSTMENTS PRICE CHANGES PRICE DYNAMICS PRICE FLEXIBILITY PRICE FLUCTUATIONS PRICE HIKE PRICE INCREASE PRICE INCREASES PRICE INDEXES PRICE INDICES PRICE INFLATION PRICE LEVEL PRICE LEVELS PRICE SETTING PRICE TRENDS PRODUCER PRICES PUBLIC INVESTMENTS RANDOM WALK RAPID GROWTH RAPID INFLATION RATE OF INFLATION REAL EFFECTIVE EXCHANGE RATE REAL EXCHANGE RATE REAL IMPORTS REAL INTEREST RATE REGIONAL MARKETS RELATIVE PRICE RELATIVE PRICES ROBUSTNESS CHECK STABLE EXCHANGE RATE STRUCTURAL REFORMS SUBSTITUTION SUPPLY SHOCKS SUPPLY-SIDE T-VALUE TIGHT MONETARY POLICY TOTAL EXPORTS TRADABLE GOODS TRADE DEFICITS TRADE PATTERN TRADING PARTNER TRADING PARTNERS TRANSMISSION MECHANISM TRANSMISSION MECHANISMS TRANSPORTATION COSTS TREASURY BILL TREASURY BILLS UNCERTAINTIES UNCERTAINTY UNEMPLOYMENT VOLATILITY WEIGHTS WHOLESALE PRICES WHOLESALERS WORLD MARKET WORLD MARKETS WORLD PRICES
Online Access:	http://hdl.handle.net/10986/4163

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http://hdl.handle.net/10986/4163

Inflation Dynamics and Food Prices in an Agricultural Economy : The Case of Ethiopia

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