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This Selected Issues paper describes the monetary transmission mechanism in Sierra Leone. The paper uses a vector autoregression model to explore the links between policy changes by The Bank of Sierra Leone and real variables, such as output and prices. The paper describes Sierra Leone’s...
Persistent link: https://www.econbiz.de/10011243533
capita GDP and inflation have positive effects on pass-through, while market volatility has a negative effect. Among …
Persistent link: https://www.econbiz.de/10009203524
exhibiting signs of overheating, with imbalances evident in inflation, the current account, and external debt. GDP grew at an …
Persistent link: https://www.econbiz.de/10005825269
This Selected Issues paper for Iceland reports that it faces a considerably less favorable inflation-output variability … of inflation breaching the tolerance band and help to lower the probability of such events occurring. To effectively … target inflation, central banks need to be forward looking, responding early to prospective demand pressures. Having housing …
Persistent link: https://www.econbiz.de/10005825421
lowering inflation. Such recent developments have brought to the forefront the idea that freely mobile capital, independent … all three. Inflation-targeting regimes being adopted by many countries provide a way of resolving this dilemma. …
Persistent link: https://www.econbiz.de/10005825662
This paper presents an empirical measure of disinflation credibility and discusses its evolution in Turkey since the 2001 crisis. The results indicate that credibility has improved markedly over this period, boding well for the future of disinflation in Turkey.
Persistent link: https://www.econbiz.de/10005825671
This paper reviews the reserve requirement arrangements of sub-Saharan Africa, focusing on the differences between reserve requirements on domestic- and foreign-currency deposits. The reserve requirement systems in sub-Saharan Africa are relatively simple and transparent, but in some countries...
Persistent link: https://www.econbiz.de/10005825674
This paper examines the determinants of inflation in Sierra Leone using a structural vector autoregression (VAR …) approach to help forecast inflation for operational purposes. Despite data limitations, the paper accurately models inflation … in Sierra Leone. As economic theory predicts, domestic inflation is found to increase with higher oil prices, higher …
Persistent link: https://www.econbiz.de/10005825688
been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper … are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term. …
Persistent link: https://www.econbiz.de/10005825743
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the European Central...
Persistent link: https://www.econbiz.de/10005825754