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Estimating the Implicit Inflation Target of the South African Reserve Bank

Estimating the Implicit Inflation Target of the South African Reserve Bank »

Source: Estimating the Implicit Inflation Target of the South African Reserve Bank

Volume/Issue: 2012/177

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505252

Keywords: Taylor rule, state space models, Kalman filter, inflation, inflation target, inflation targeting, central bank,

This paper applies a state-space approach to estimate the implicit inflation target of the South African Reserve Bank (SARB) since the adoption of the Inflation Targeting (IT) framework. The paper's findings are tw...

Goal-Independent Central Banks

Goal-Independent Central Banks »

Source: Goal-Independent Central Banks : Why Politicians Decide to Delegate

Volume/Issue: 2006/256

Series: IMF Working Papers

Author(s): Christopher Crowe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2006

ISBN: 9781451865165

Keywords: coalition formation, treatment effects, monetary policy, central bank, inflation aversion, independent central bank, Noncooperative Games, Models of Political Processes: Rent-seeking, Elections, Legislatures

A motivation for central bank independence (CBI) is that policy delegation helps politicians manage diverse coalitions. This paper develops a model of coalition formation that predicts when delegation will occur. A...

South Africa
			: Selected Issues

South Africa : Selected Issues »

Volume/Issue: 2008/347

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 October 2008

DOI: http://dx.doi.org/10.5089/9781451841060.002

ISBN: 9781451841060

Keywords: inflation, relative price, central banks, inflation targeting

This Selected Issues paper discusses the policy response by a sample of central banks to the ongoing oil and food price shocks in South Africa, drawing some lessons, which can help put in context developments in th...

Estimating the Implicit Inflation Target of the South African Reserve Bank

Estimating the Implicit Inflation Target of the South African Reserve Bank »

Volume/Issue: 2012/177

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

DOI: http://dx.doi.org/10.5089/9781475505252.001

ISBN: 9781475505252

Keywords: Taylor rule, state space models, Kalman filter, inflation, inflation target, inflation targeting, central bank,

This paper applies a state-space approach to estimate the implicit inflation target of the South African Reserve Bank (SARB) since the adoption of the Inflation Targeting (IT) framework. The paper's findings are tw...

Goal-Independent Central Banks
			: Why Politicians Decide to Delegate

Goal-Independent Central Banks : Why Politicians Decide to Delegate »

Volume/Issue: 2006/256

Series: IMF Working Papers

Author(s): Christopher Crowe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2006

DOI: http://dx.doi.org/10.5089/9781451865165.001

ISBN: 9781451865165

Keywords: coalition formation, treatment effects, monetary policy, central bank, inflation aversion, independent central bank, Noncooperative Games, Models of Political Processes: Rent-seeking, Elections, Legislatures

A motivation for central bank independence (CBI) is that policy delegation helps politicians manage diverse coalitions. This paper develops a model of coalition formation that predicts when delegation will occur. A...

It Framework Design Parameters

It Framework Design Parameters »

Volume/Issue: 2009/87

Series: IMF Working Papers

Author(s): Douglas Laxton , and Charles Freedman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

DOI: http://dx.doi.org/10.5089/9781451872347.001

ISBN: 9781451872347

Keywords: central bank, inflation rate

This is the third chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." It examines a number of elements in the design of...

Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters

Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters »

Volume/Issue: 2008/289

Series: IMF Working Papers

Author(s): Alfredo Cuevas , and Secil Topak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871470.001

ISBN: 9781451871470

Keywords: supply shocks, relative prices, Taylor rules, relative price, central bank,

When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation while accepting first round effects. We analyze the experience of South Africa and other infla...

The Relative Merits and Implications of Inflation Targeting for South Africa

The Relative Merits and Implications of Inflation Targeting for South Africa »

Volume/Issue: 1999/116

Series: IMF Working Papers

Author(s): Gunnar Jonsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1999

DOI: http://dx.doi.org/10.5089/9781451853919.001

ISBN: 9781451853919

Keywords: Inflation Targeting, inflation, monetary policy, central bank, inflation targeting framework

This paper describes the main elements of inflation targeting, reviews its pros and cons, and examines the experiences thus far in countries using this framework. It discusses the implications and relative merits o...

Welfare Effects of Monetary Integration
			: The Common Monetary Area and Beyond

Welfare Effects of Monetary Integration : The Common Monetary Area and Beyond »

Volume/Issue: 2012/136

Series: IMF Working Papers

Author(s): Tamon Asonuma , Xavier Debrun , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503890.001

ISBN: 9781475503890

Keywords: monetary policy, inflation, central bank, monetary union, monetary area

This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an array of broader grouping among Southern African Development Community (SADC) countries. Model...

It Framework Design Parameters

It Framework Design Parameters »

Source: It Framework Design Parameters

Volume/Issue: 2009/87

Series: IMF Working Papers

Author(s): Douglas Laxton , and Charles Freedman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872347

Keywords: central bank, inflation rate

This is the third chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." It examines a number of elements in the design of...