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- W2184698910 abstract "The paper adopted all the three methods within the economic literature to estimate the size of the sacrifice ratio for Ghana. The first approach focused on historical episodes of disinflation and associated output losses during that period while the second approach estimated the sacrifice ratio from the structural vector auto regression framework. The third approach draws on the slope of the aggregate supply curves. The estimated sacrifice ratios indicated that in Ghana a permanent 1 per cent drop in inflation results in an output lose within the range of 0.001 to 5.1 per cent. The paper concluded that Ghana having experienced both macro stability and economic growth more recently, if a disinflation process persists and policies are consistent and credible, the economy may eventually adjust to the new monetary policy regime and output and employment losses may only be transitory. Therefore, discussions on this subject must take into account the sources of inflation, the monetary policy stance and the role of supply conditions." @default.
- W2184698910 created "2016-06-24" @default.
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- W2184698910 date "2007-01-01" @default.
- W2184698910 modified "2023-09-27" @default.
- W2184698910 title "ESTIMATION OF SHORT RUN TRADE OFFS BETWEEN STABILITY AND OUTPUT" @default.
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