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- W3124158036 abstract "A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the variability of output and the interest rate, as well as deviations of inflation from the long-term low-inflation target. The optimal approach from initial high inflation to the ultimate target is gradual; and transitional inflation-reduction objectives are flexible. Over time, as policy earns credibility, expectations of inflation converge towards the long-run target, the output-inflation variability tradeoff improves, and optimal policy responses to shocks moderate." @default.
- W3124158036 created "2021-02-01" @default.
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- W3124158036 date "2010-01-01" @default.
- W3124158036 modified "2023-09-23" @default.
- W3124158036 title "A Model for Full-Fledged Inflation Targeting and Application to Ghana" @default.
- W3124158036 doi "https://doi.org/10.5089/9781451962444.001.a001" @default.
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