The Relative Merits and Implications of Inflation Targeting for South Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Relative Merits and Implications of Inflation Targeting for South Africa write by Mr.Gunnar Jonsson. This book was released on 1999-08-01. The Relative Merits and Implications of Inflation Targeting for South Africa available in PDF, EPUB and Kindle. 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 of such a framework for South Africa, and concludes that it would be feasible and desirable for South Africa to adopt explicit inflation targeting. Doing so could reduce uncertainties about the Reserve Bank’s objectives and enhance the transparency of monetary policy. However, further experience with the operational aspects of the repurchase system and a refinement of the inflation forecasting framework may be needed before inflation targeting is implemented.
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 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters write by Secil Topak. This book was released on 2008-12. Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters available in PDF, EPUB and Kindle. 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 inflation targeters to explore whether and when this policy prescription implies changing the monetary policy stance. Inflation targeting central banks differ on how aggressively they typically react to relative price shocks, reflecting differences in resilience of underlying inflation to such shocks. An examination of individual policy decisions reveals the importance of the broader economic context in framing the responses to relative price shocks.
Inflation Dynamics in South Africa
Inflation Dynamics in South Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Dynamics in South Africa write by Eliphas Ndou. This book was released on 2017-02-21. Inflation Dynamics in South Africa available in PDF, EPUB and Kindle. This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size of exchange rate changes and volatility, GDP growth, inflation, output gap, credit growth, sovereign spreads and fiscal policy, providing new policy evidence on the impact of these. Ndou and Gumata apply techniques to determine the prevalence of updating inflation expectations, and reconsider the propagation effects of a number of inflation risk factors. Asking to what extent the evidence points to a need to enforce price stability and the anchoring of inflation expectation, the book fills existing gaps in South African Policy, and maintains a clear argument that price stability is consistent with the 3 to 6 per cent inflation target range, and that threshold application should form an important aspect of policy analysis in periods of macroeconomic uncertainty. As such, the book serves as an excellent reference text for academic and policy discussions alike.
Why Inflation Targeting?
Why Inflation Targeting? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Why Inflation Targeting? write by Charles Freedman. This book was released on 2009-04-01. Why Inflation Targeting? available in PDF, EPUB and Kindle. This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in generating boom-bust cycles. Following a general discussion of the need for a nominal anchor, we describe a specific type of monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the time-inconsistency problem. We conclude by providing a brief introduction to the way in which inflation targeting works.
Inflation Expectations
Inflation Expectations - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Expectations write by Peter J. N. Sinclair. This book was released on 2009-12-16. Inflation Expectations available in PDF, EPUB and Kindle. Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
