Does Money Matter for Inflation in Ghana?
AbstractMoney has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (as measured by the output gap) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is needed to strengthen the credibility of Ghana's inflation-targeting regime.1
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 11/274.
Date of creation: 01 Nov 2011
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This paper has been announced in the following NEP Reports:
- NEP-AFR-2011-12-19 (Africa)
- NEP-ALL-2011-12-19 (All new papers)
- NEP-CBA-2011-12-19 (Central Banking)
- NEP-MAC-2011-12-19 (Macroeconomics)
- NEP-MON-2011-12-19 (Monetary Economics)
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