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Money, Inflation and the Arab Spring in Bahrain

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  • Michael S. Miller
  • Seth Epstein

Abstract

This paper investigates inflation in Bahrain during the period of the Arab Spring to determine effect of unrest on general and relative prices. We find first that the GDP deflator alone measures inflation in Bahrain; the CPI measures the cost of living only. Additionally, oil prices, the U.S. dollar’s trade-weighted value, and government price intervention are highly correlated with price movements. Disaggregated monthly CPI data reveal the onset of unrest is correlated with movements in several components of the CPI index, but the Arab Spring had its most direct and lasting causal effect solely on the housing.

Suggested Citation

  • Michael S. Miller & Seth Epstein, 2015. "Money, Inflation and the Arab Spring in Bahrain," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 25-42.
    • Handle: RePEc:ers:journl:v:xviii:y:2015:i:1:p:25-42
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    File URL: http://www.ersj.eu/repec/ers/papers/15_1_p2.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Bahrain; Inflation; Arab Spring;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy

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