How Has Inflation Targeting Affected Monetary Policy in South Africa? The Journal of South African Economics, 71, 2, 380-407Woglom, G. (2003) How has inflation targeting affected monetary policy in South Africa? SAJE 71(2), 198-210.
Suppose the Central bank were required to conduct monetary policy, so as to hold the unemployment rate below 4%. What implications would this have for the economy? How were GDP, inflation, and unemployment affected during the 2007-2009 recession? What monetary policies and fiscal policies were i...
The main results are that if policy had been conducted by means of a Volcker-type rule, it would have been uniformly more restrictive; and if it had been conducted by means of a Greenspan-type rule, it would have been less restrictive. These results are robust to the introduction of real...
If unemployment was 6%—and through monetary and fiscal stimulus, the rate was lowered to 5%—the impact on inflation would be negligible. In other words, with a 1% fall in unemployment, prices would not rise by much. If instead, unemployment fell to 4% from 6%, we can see on the le...
missing inflationmonetary policymoney demandThe U.S. inflation rate for the period 2008-2016 was abnormally low despite the execution of a high expansive monetary policy, which has been called "the missindoi:10.2139/ssrn.3553965Esteban Posada, Carlos...
supply and nominal GDP. However, this should be less true prior to this time when the Fed was not stabilizing the nominal GDP growth rate–the period of the “Great Inflation“–and there really was no nominal anchor for U.S. monetary policy. The graphs below provide evidence on this ...
There are some steps investors can take if they want to reduce portfolio risk using TIPS. For example, investors might consider holding bonds until maturity. That ensures that a bond investor will receive the full principal value adjusted for inflation, minimizing the loss of purchasing p...
This result not only fails to drive production enterprises to reduce the demand for crude oil and refined oil through cost increase or supply control, but also has to upgrade industrial upgrading and energy saving technology pformation. Instead, the cost inflation inflationary burden resulting from ...
Wage increases, changes in government fiscal policy, central bank monetary policy, and exchange rates often reduce supply compared to demand. How do inflation reports affect stock markets? Reports of rising inflation can affect stock markets, especially if the inflation rate goes beyond the targets ...
increase or reduce inflation. If too much money is added to the circulation, this can -- in theory -- be clawed back through higher-rate taxation and can be used to pay off the national debt. However, this method can also devalue a currency and become a catalyst for inflation and a ...