Download or read book Inflation Management by Bank of Ghana written by Bank of Ghana and published by . This book was released on 1995 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Quarterly Projection Model for the Bank of Ghana written by Philip Abradu-Otoo and published by International Monetary Fund. This book was released on 2022-09-02 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper describes the Quarterly Projection Model (QPM) that underlies the Bank of Ghana Forecasting and Policy Analysis System (FPAS). The New Keynesian semi-structural model incorporates the main features of the Ghanaian economy, transmission channels and policy framework, including an inflation targeting central bank and aggregate demand effects of fiscal policy. The shock propagation mechanisms embedded in the calibrated QPM demonstrate its theoretical consistency, while out-of-sample forecasting accuracy validates its empirical robustness. Another important part of the QPM is endogenous policy credibility, which may aggravate policy trade-offs in the model and make it more realistic for developing economies. Historical track record of real time policy analysis and medium-term forecasting conducted with the QPM – as a component of the broader FPAS analytical organization – establishes its critical role in supporting the Bank’s forward-looking monetary policy framework.
Download or read book Ghana written by International Monetary Fund. Institute for Capacity Development and published by International Monetary Fund. This book was released on 2024-09-20 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical assistance (TA) report presents the outcomes of the multi-year Bank of Ghana (BOG) Forecasting and Policy Analysis System (FPAS) TA project, conducted between late-2019 and mid-2024 over a total of seven missions, three in-person and four virtual. The project has focused on upgrading and building new institutional capacity for model-based policy analysis and macroeconomic forecasting, along its integration into monetary policy processes and external communications. BOG staff has made remarkable progress and built a strong skillset in providing analytical support to the policymakers. Model-based work plays an important role in the BOG internal deliberations and represents the key input in forward-looking monetary policy formulation, including in regular external communications. Remaining recommendations relate to ensuring FPAS work sustainability and further streamline external communications.
Download or read book Has Inflation Targeting Strategy Made A Difference in Ghanaian Macroeconomic Management Analysis of Business Cycle Fluctuations and Econometric Estimates written by Nana Kwame Akosah and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For over a decade of practicing inflation targeting (IT) strategy, inflation has remained high and persistent while economic growth momentum has boosted in Ghana. This paper investigates the relative macroeconomic benefits of the IT strategy in Ghana based on business cycle fluctuations and several standard econometric techniques that capture other salient macroeconomic events and/or disasters. The basic empirical finding is that the IT strategy has generally improved the macroeconomic management in Ghana by reducing average inflation rate, boosting average growth rate and dampening the cyclical oscillations in both output and inflation. We however find a slower pace of disinflation in Ghana, underpinning the high inflation inertia and backward-looking inflation expectation formation. The gradual disinflation process is an attestation that the monetary authority in Ghana has been practicing flexible rather than stringent IT strategy in the midst of frequent shock-side shocks, weak policy transmission (due to protracted transmission lags) and continuous fiscal surprises which create additional source of concerns that the central bank finds it cumbersome to ignore. The central bank of Ghana can improve its policy credibility and hence sharp agents' inflation expectation by enhancing policy communication and acknowledging that it does not focus solely on the inflation target but is also watchful of short-run trade-offs between inflation and output (and employment).
Download or read book Policy Consistency and Inflation in Ghana written by Nii Kwaku Sowa and published by . This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using an error-correction model (ECM), estimates an inflation equation for Ghana. Covers the period from 1984 to 1991.
Download or read book Deficit Financing Inflation and Capital Formation written by Naseem Ahmad and published by . This book was released on 1970 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on deficit financing, inflation and capital formation in Ghana from 1960 to 1965 - covers the balance of payments, monetary policy, etc., and analyses the fact that economic development showed a loss of momentum in this period despite a high rate of public investment. Bibliography pp. 152 to 156 references and statistical tables.
Download or read book Inflation in Ghana written by E. Oti Boateng and published by . This book was released on 1978 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Reforms and Bank Performance in Ghana written by T. O. Antwi-Asare and published by . This book was released on 2000 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation Interest Rates and Banking in Ghana written by Nii Kwaku Sowa and published by . This book was released on 1995 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Soundness Indicators written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-04-04 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Soundness Indicators (FSIs) are measures that indicate the current financial health and soundness of a country's financial institutions, and their corporate and household counterparts. FSIs include both aggregated individual institution data and indicators that are representative of the markets in which the financial institutions operate. FSIs are calculated and disseminated for the purpose of supporting macroprudential analysis--the assessment and surveillance of the strengths and vulnerabilities of financial systems--with a view to strengthening financial stability and limiting the likelihood of financial crises. Financial Soundness Indicators: Compilation Guide is intended to give guidance on the concepts, sources, and compilation and dissemination techniques underlying FSIs; to encourage the use and cross-country comparison of these data; and, thereby, to support national and international surveillance of financial systems.
Download or read book Inflation and Interest Rate Fixation in Ghana Nii K Sowa CEPA written by and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest rate fixation is one of the tools in the arsenal of the Bank of Ghana in its attempt, together with the fiscal authorities, to shape the economic landscape in Ghana. [...] Any link between inflation and interest rates? Inflation is the cost of holding cash while the rate of interest is, crudely, the cost of holding wealth in any other asset. [...] In my opinion, the policy-makers are right in using the year-on-year inflation rate as ONE of the pointers in fixing the policy rate of interest. [...] In his reply to the Bank of Ghana"s rejoinder in the June 2, 2003 issue of the Ghanaian Times, James Akpo shifts the import of his article from the earlier attack on the theoretical underpinning of monetary policy-making to the levels of interest rates. [...] Interest rates as the price of financial capital will be rising the higher the demand for the latter.
Download or read book Banking and Inflation Consequences for Banks in the Economic Development of Ghana written by David Aryeetey Aryee and published by . This book was released on 1982 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Ghana written by Cletus K. Dordunoo and published by . This book was released on 1998 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Management in Ghana written by Stephen D. Younger and published by Cornell Food & Nutrition Policy Programs. This book was released on 1991 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation in Emerging and Developing Economies written by Jongrim Ha and published by World Bank Publications. This book was released on 2019-02-24 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Download or read book Inflation Targeting and Financial Stability written by Pierre-Richard Agénor and published by . This book was released on 2013 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Two Targets Two Instruments written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2012-02-29 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
