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20 A Structural Analysis of the Determinants of Inflation in the CEMAC Region

20 A Structural Analysis of the Determinants of Inflation in the CEMAC Region »

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 In this chapter 1 we aim to identify the main determinants of inflation in the Communauté Economique et Monétaire de l’Afrique Centra...

Budget Support Versus Project Aid

Budget Support Versus Project Aid »

Source: Budget Support Versus Project Aid

Volume/Issue: 2003/88

Series: IMF Working Papers

Author(s): Tito Cordella , and Giovanni Dell'Ariccia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451851182

Keywords: aid policy, asymmetric information, empirical growth models, budget support, budget surplus, capital expenditures, budget constraint, capital expenditure, Asymmetric and Private Information, Welfare and Poverty: General

Should donors who are interested in the effectiveness of developmental programs rely on conditional budget support or on project aid? To answer this question, we present a model in which only a subset of the develo...

16 Do Money Targets Matter for Monetary Policy in Kenya?

16 Do Money Targets Matter for Monetary Policy in Kenya? »

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 In the preceding chapter, we presented a semi-structural New Keynesian open economy model for low-income countries, and applied it to Kenya. We found that the model co...

4 Economic Fluctuations in Sub-Saharan Africa

4 Economic Fluctuations in Sub-Saharan Africa »

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 In this chapter we provide (i) an overview of some of the structural features of the economies of sub-Saharan Africa (SSA) and (ii) a systematic characterization of ec...

6 Identifying the Monetary Transmission Mechanism in Sub-Saharan Africa

6 Identifying the Monetary Transmission Mechanism in Sub-Saharan Africa »

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 and researchers in low-income countries often use structural vector auto-regression (SVAR) models estimated on aggregate macroeconomic data to develop a...

Budget Support Versus Project Aid

Budget Support Versus Project Aid »

Volume/Issue: 2003/88

Series: IMF Working Papers

Author(s): Tito Cordella , and Giovanni Dell'Ariccia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

DOI: http://dx.doi.org/10.5089/9781451851182.001

ISBN: 9781451851182

Keywords: aid policy, asymmetric information, empirical growth models, budget support, budget surplus, capital expenditures, budget constraint, capital expenditure, Asymmetric and Private Information, Welfare and Poverty: General

Should donors who are interested in the effectiveness of developmental programs rely on conditional budget support or on project aid? To answer this question, we present a model in which only a subset of the develo...

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...