A Bayesian-estimated model of inflation targeting in South Africa /

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Bibliographic Details
Author / Creator:Harjes, Thomas, 1969- author.
Imprint:Washington, D.C. : International Monetary Fund, European and Research Depts., 2008.
Description:1 online resource (24 pages) : illustrations
Language:English
Series:IMF working paper ; WP/08/48
IMF working paper ; WP/08/48.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12496745
Hidden Bibliographic Details
Other authors / contributors:Ricci, Luca Antonio, author.
International Monetary Fund. European Department.
International Monetary Fund. Research Department.
Notes:Includes bibliographical references (pages 23-24).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper estimates a small dynamic macroeconomic model for the South African economy with Bayesian methods. The model is tailored to assessing the impact of domestic as well as external shocks on inflation within an inflation targeting framework, by incorporating forward-looking behavior of private agents and of the monetary authority. The model is able to display important empirical features of the monetary transmission mechanism that have been found in other studies. It helps to integrate the short-term inflation outlook into a consistent medium-term framework and to design the policy response for various shocks that affect inflation.
Other form:Print version: Harjes, Thomas, 1969- Bayesian-estimated model of inflation targeting in South Africa. Washington, D.C. : International Monetary Fund, European and Research Depts., 2008

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520 3 |a This paper estimates a small dynamic macroeconomic model for the South African economy with Bayesian methods. The model is tailored to assessing the impact of domestic as well as external shocks on inflation within an inflation targeting framework, by incorporating forward-looking behavior of private agents and of the monetary authority. The model is able to display important empirical features of the monetary transmission mechanism that have been found in other studies. It helps to integrate the short-term inflation outlook into a consistent medium-term framework and to design the policy response for various shocks that affect inflation. 
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650 0 |a Inflation (Finance)  |z South Africa  |x Econometric models. 
650 0 |a Anti-inflationary policies  |z South Africa  |x Econometric models. 
650 0 |a Transmission mechanism (Monetary policy)  |z South Africa  |x Econometric models. 
651 0 |a South Africa  |x Economic conditions  |x Econometric models. 
651 0 |a South Africa  |x Economic policy  |x Econometric models. 
650 6 |a Inflation  |z Afrique du Sud  |x Modèles économétriques. 
650 6 |a Inflation  |x Politique gouvernementale  |z Afrique du Sud  |x Modèles économétriques. 
650 6 |a Mécanismes de transmission (Politique monétaire)  |z Afrique du Sud  |x Modèles économétriques. 
651 6 |a Afrique du Sud  |x Conditions économiques  |x Modèles économétriques. 
651 6 |a Afrique du Sud  |x Politique économique  |x Modèles économétriques. 
650 7 |a Anti-inflationary policies  |x Econometric models.  |2 fast  |0 (OCoLC)fst00810360 
650 7 |a Economic history.  |2 fast  |0 (OCoLC)fst00901974 
650 7 |a Economic policy  |x Econometric models.  |2 fast  |0 (OCoLC)fst00902034 
650 7 |a Inflation (Finance)  |x Econometric models.  |2 fast  |0 (OCoLC)fst00972453 
651 7 |a South Africa.  |2 fast  |0 (OCoLC)fst01204616 
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