The possible short-run trade-off between the inflation (gap) and the output (gap) remains a critical policy issue for any emerging economy; particularly when an implicit or an explicit inflation targeting monetary policy is considered. The New Keynesian Phillips Curve (NKPC) has recently set up...

This paper provides a firm-level empirical analysis on the ways in which corruption affects innovative activity. Particularly with respect to the African continent that is striving to reconcile with instability and poverty, this issue seems to be of utmost importance. Using a newly available...

This paper utilizes a modified structural VAR (SVAR-X) model to analyse the process of monetary policy reaction function in turbulent period compared to the period of tranquillity. The study finds that it is crucial to distinguish between the response of monetary policy to output growth and...