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In Africa, a number of countries like South Africa have adopted inflation targeting. In Nigeria, different monetary policy regimes have been adopted over the years with rather unsatisfactory success. This study examines inflation targeting in Nigeria and South Africa, using fully modified least...
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: first, I analyze the effectiveness of nominal exchange rates as shock absorbers in countries with inflation targeting. This …
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: first, I analyze the effectiveness of nominal exchange rates as shock absorbers in countries with inflation targeting. This …
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? Estimation of a monetary policy rule to answer this question faces a censoring problem since the interest rate target has been …
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