Yemen.

This paper investigates the likely implications of declining oil production on Yemen's equilibrium exchange rate, and discusses policy options to ensure a smooth transition to a nonoil economy. The empirical results suggest that, as oil production and foreign exchange earnings fall, the Yemeni...

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Bibliographic Details
Main Author: Schneider, Todd
Other Authors: Ben Ltaifa, Nabil, Ahmed, Faisal, Chami, Saade
Format: eBook
Language:English
Published: Washington : International Monetary Fund, 2007.
Series:IMF Working Papers.
Subjects:
Online Access:Click for online access

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245 1 0 |a Yemen. 
260 |a Washington :  |b International Monetary Fund,  |c 2007. 
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505 0 |a I. Introduction; II. Background and Macroeconomic Outlook; Figures; 1. Exchange Rate and Inflation Developments, January 1998-June 2006; III. Estimating the Equilibrium Exchange Rate; 2. Yemen and GCC Countries, Real Effective Exchange Rates, January 1995-June 2006; IV. Equilibrium Exchange Rate in Yemen; A. Data and variables; 3. Real Effective Exchange Rate and its Key Determinants; B. Methodology; C. Econometric Results; Tables; 1. Selected Results of the VEC; D. Equilibrium (long-run) Relationship; E. Impact of Declining Oil Production on the REER. 
505 8 |a F. Impact on the Nominal Exchange Rate: An Illustrative ExerciseV. Exchange Rate Regime Options; 4. Yemeni Rial-Daily Exchange Rate Versus U.S. Dollar, January-August 2006; VI. Conclusions; Appendix; 1. Variables; References. 
520 |a This paper investigates the likely implications of declining oil production on Yemen's equilibrium exchange rate, and discusses policy options to ensure a smooth transition to a nonoil economy. The empirical results suggest that, as oil production and foreign exchange earnings fall, the Yemeni rial will have to adjust downward in real effective terms to keep pace with the equilibrium exchange rate. In light of strong pass-through from exchange rate depreciation to domestic inflation, this could entail a substantial depreciation in nominal terms. Given the nature of the adjustment, a floating e. 
650 0 |a Foreign exchange rates  |z Yemen (Republic) 
650 0 |a Petroleum industry and trade  |z Yemen (Republic) 
650 0 |a Exports  |z Yemen (Republic) 
650 7 |a Exports  |2 fast 
650 7 |a Foreign exchange rates  |2 fast 
650 7 |a Petroleum industry and trade  |2 fast 
651 7 |a Yemen (Republic)  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39PBJdCmhRRMd7PThhXbKPCwC 
700 1 |a Ben Ltaifa, Nabil. 
700 1 |a Ahmed, Faisal. 
700 1 |a Chami, Saade. 
776 0 8 |i Print version:  |a Schneider, Todd.  |t Yemen: Exchange Rate Policy in the Face of Dwindling Oil Exports.  |d Washington : International Monetary Fund, ©2007  |z 9781451865691 
830 0 |a IMF Working Papers. 
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