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9 Implementation Errors and Incomplete Information

9 Implementation Errors and Incomplete Information »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction As discussed in Chapter 6, recent empirical work has failed to find much evidence of a monetary transmission mechanism in low-income countries, including in Africa. So...

11 Implications of Food Subsistence for Monetary Policy and Inflation

11 Implications of Food Subsistence for Monetary Policy and Inflation »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Central banks in low-income countries (LICs) have been adopting elements of inflation targeting since the mid-1990s, including an elevated focus on price stability and...

19 Inflation Forecast Targeting in a Low-Income Country: The Case of Ghana

19 Inflation Forecast Targeting in a Low-Income Country: The Case of Ghana »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Over the past two decades, numerous monetary authorities have used inflation targeting to solve a chronic inflation problem. 1...

2 Inflation Targeting in Uganda

2 Inflation Targeting in Uganda »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction The Bank of Uganda (BOU) introduced its inflation targeting (IT) monetary policy framework in July 2011, replacing a monetary targeting (MT) framework which had been i...

18 Introducing a Semi-Structural Macroeconomic Model for Rwanda

18 Introducing a Semi-Structural Macroeconomic Model for Rwanda »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction After facing some challenges in the conduct of monetary policy and to further legitimize their commitment to a low and stable inflation, central banks of the East Afri...

3 Introduction to Part I

3 Introduction to Part I »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

Our understanding of monetary policy in LICs, as with any economic subject, must be fundamentally empirical. Theory is unlikely to give an unambiguous answer to any important policy...

7 Introduction to Part II

7 Introduction to Part II »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

The chapters in Part II reflect our efforts over the last few years to use simple dynamic general equilibrium models to analyse monetary policy issues facing sub-Saharan African (SS...

14 Introduction to Part III

14 Introduction to Part III »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

In Part III we present various applications of quantitative dynamic stochastic general equilibrium models to SSA countries. Unlike the previous chapters, which provided broad guidance, the emphasis here is o...

13 Modelling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New Keynesian Framework

13 Modelling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New Keynesian Framework »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Monetary policy is defined by the objectives, targets, and instruments that both guide and characterize the behaviour of central banks. 1...

17 Monetary Policy in Low-Income Countries in the Face of the Global Crisis: A Structural Analysis

17 Monetary Policy in Low-Income Countries in the Face of the Global Crisis: A Structural Analysis »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Understanding the impact of the global financial crisis in low-income countries (LICs) is an important task for national authorities and international organizations....