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Monetary Policy Credibility and Exchange Rate Pass-Through in South Africa
Kabundi, Alain - 2018
, in line with the literature, that this outcome is largely due to improved monetary policy credibility. To do this, it … first documents the factors that explain monetary policy credibility. Using the standard deviation of individual inflation … forecasts as a measure of monetary policy credibility, its shows that the latter is negatively affected by the level of …
Persistent link: https://www.econbiz.de/10012912492
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The Exchange Rate Pass - Through to Import and Export Prices : The Role of Nominal Rigidities and Currency Choice
Choudhri, Ehsan U. - 2012
Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices. Previous studies have reported similar results, which give rise to the puzzle that...
Persistent link: https://www.econbiz.de/10013098580
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Global Commodity Prices, Monetary Transmission, and Exchange Rate Pass-Through in the Pacific Islands
Peiris, Shanaka J. - 2012
Pacific Islands countries are vulnerable to commodity price shocks, and this poses challenges to monetary policy. The high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs suggest a greater efficacy of exchange rate changes in...
Persistent link: https://www.econbiz.de/10013098628
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Policy Analysis and Forecasting in the World Economy : A Panel Unobserved Components Approach
Vitek, Francis - 2012
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national …
Persistent link: https://www.econbiz.de/10013102206
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Alternative Monetary Policy Rules for India
Patra, Michael Debabrata - 2012
This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the conduct of monetary policy. The results show that forward-looking formulations of...
Persistent link: https://www.econbiz.de/10013102281
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Trinity Strikes Back : Monetary Independence and Inflation in the Caribbean
Cevik, Serhan - 2019
Monetary independence is at the core of the macroeconomic policy trilemma stating that an independent monetary policy, a fixed exchange rate and free movement of capital cannot exist at the same time. This study examines the relationship between monetary autonomy and inflation dynamics in a...
Persistent link: https://www.econbiz.de/10012859872
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Policy and Spillover Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach
Vitek, Francis - 2014
This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national …
Persistent link: https://www.econbiz.de/10013040410
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Policy Analysis and Forecasting in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach
Vitek, Francis - 2014
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national …
Persistent link: https://www.econbiz.de/10013060545
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Global Supply Chain Disruptions : Challenges for Inflation and Monetary Policy in Sub-Saharan Africa
Andriantomanga, Zo; Bolhuis, Marijn; Hakobyan, Shushanik - 2023
The Covid-19 pandemic has led to a large disruption of global supply chains. This paper studies the implications of supply chain disruptions for inflation and monetary policy in sub-Saharan Africa. Increases in supply chain pressures have had a sizeable impact on headline, food, and tradable...
Persistent link: https://www.econbiz.de/10014256875
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Inflation Responses to Commodity Price Shocks - How and Why Do Countries Differ?
Ustyugova, Yulia - 2012
This paper relates the inflationary impact of commodity price shocks across countries to a broad range of structural characteristics and policy frameworks over the period 2001-2010, using several approaches. The analysis suggests that economies with higher food shares in CPI baskets, fuel...
Persistent link: https://www.econbiz.de/10013098581