announced inflation targets. The study estimates the Bank of Ghana's policy responses over the inflation targeting period using … the Taylor rule. We find that the Bank of Ghana reacts asymmetrically to inflation gap below and above the estimated … inflation threshold of 16.4% with considerable inflation accommodation instead of targeting it. We question the logic behind the …

inflation in the durable goods sector. We then analyze the optimal Taylor rule for this economy. If the monetary authority wants … to stabilize the aggregate output gap, it places much more emphasis on stabilizing durable goods inflation (relative to … its share of value-added in the economy). In contrast, if the monetary authority values stabilizing aggregate inflation …

indicator for future inflation, therefore being only instrumental (to stabilize inflation) rather than important per se. …

January 1993 to December 2020 for five inflation-targeting countries (the UK, Canada, Australia, New Zealand and Sweden) and … speed is twice as fast when deviations are small and the credibility of the central bank is higher. Third, inflation …