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variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and …
Persistent link: https://www.econbiz.de/10014398244
developments should be monitored closely and monetary policy tightened further should inflation pressures increase. The …
Persistent link: https://www.econbiz.de/10011244639
The analysis is structured around the standard taxonomy of transmission channels. A monetary tightening must limit banks' ability to supply loans by reducing bank reserves/bank credit. The direct interest rate channel is the strongest channel of the monetary policy transmission mechanism (MPTM),...
Persistent link: https://www.econbiz.de/10005591123
Criteria are discussed. The authorities are taking measures to contain inflation. The inflation target has been raised to … particularly important given the role of expected inflation in wage settlements. …
Persistent link: https://www.econbiz.de/10005598937
reducing inflation from three-digit annual rates in the 1990s to single-digit territory in 2004. The paper also discusses the …
Persistent link: https://www.econbiz.de/10005605076
anti-inflation policy that has led to a sharp decline in inflation. To institute a monetary policy framework, a nominal … currency in circulation, conduct more sophisticated tests to assess the relationship between inflation and the monetary …
Persistent link: https://www.econbiz.de/10011242840
Economic growth has recovered, but higher food and fuel prices have sparked a sharp rise in inflation. Monetary policy … has been tightened to contain core inflation and effects of the food and fuel price shocks. The government has allowed for …
Persistent link: https://www.econbiz.de/10011243092
This 2009 Article IV Consultation highlights that reforms initiated earlier this decade in Nigeria have averted the boom–bust pattern that characterized previous oil price cycles and better prepared the economy to deal with the global financial crisis. Non-oil growth averaged 9 percent...
Persistent link: https://www.econbiz.de/10011243651
estimate a New Keynesian Phillips curve for Armenia, suggesting a significant role of the output gap and inflation expectations … in determining current inflation. Finally, the underlying fiscal stance over the period 2000-09 is assessed by estimating …
Persistent link: https://www.econbiz.de/10014398416
Persistent link: https://www.econbiz.de/10013548662