01663cas a2200253 a 4500 AALejournalIMF002426 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451981728 1018-5941 BD-DhAAL BD-DhAAL Haas, Richard. Price Pressure Gaps : An Application of P* Using Korean Data / Richard Haas, Robert Corker. Washington, D.C. : International Monetary Fund, 1991. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper presents estimates of a price-pressure indicator for Korea. It does this by constructing measures of how much M2 velocity and output differ from their long-term values. This, in turn, involves estimating a demand for money function in an error correction framework in which interest rates in the unorganized money market help to account for the effects of ongoing financial liberalization. An equation explaining the Korean inflation rate is identified in which both the monetary variable--the velocity gap--and the real variable--the output gap--play important roles. Mode of access: Internet Corker, Robert. IMF Working Papers; Working Paper ; No. 1991/026 Full text available on IMF http://elibrary.imf.org/view/journals/001/1991/026/001.1991.issue-026-en.xml IMF e-Library