Does money matter for inflation in Ghana? /

Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (as measured by the output gap) are shown to be important predictors of future price ch...

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Main Author: Kovanen, Arto (Author)
Corporate Author: International Monetary Fund (Author)
Format: Book
Language:English
Published: [Washington, D.C.] : International Monetary Fund, ©2011
Washington, D.C. : 2011
Series:IMF Working Papers ; Working Paper No. 11/274
IMF Working Papers; Working Paper ; No. 2011/274
IMF eLibrary
IMF working paper ; WP/11/274
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500 |a At head of title: African Department 
500 |a Description based upon print version of record 
500 |a Part of the IMF eLibrary collection 
500 |a Title from PDF title page (IMF Web site, viewed November 23, 2011) 
500 |a "November 2011." 
504 |a Includes bibliographical references 
506 |a Restricted for use by site license 
506 |a Restricted for use by site license.  
520 |a Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (as measured by the output gap) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is needed to strengthen the credibility of Ghana's inflation-targeting regime 
520 3 |a Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (as measured by the output gap) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is needed to strengthen the credibility of Ghana''s inflation-targeting regime.1 
520 3 |a Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (as measured by the output gap) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is needed to strengthen the credibility of Ghana's inflation-targeting regime.1 
546 |a English 
588 |a Description based on online resource; title from PDF title page (ebrary, viewed September 24, 2014) 
588 |a Description based on print version record 
650 0 |a Inflation targeting  |x Econometric models 
650 0 |a Inflation targeting  |z Ghana  |x Econometric models 
650 4 |a Actual inflation 
650 4 |a Central Banks and Their Policies 
650 4 |a Central bank 
650 4 |a Changes in prices 
650 4 |a Deflation 
650 4 |a Demand for Money 
650 4 |a Economic models 
650 4 |a Emerging markets 
650 4 |a European monetary union 
650 4 |a Fall in inflation 
650 4 |a Financial stability 
650 4 |a Foreign currency 
650 4 |a Foreign exchange 
650 4 |a High inflation 
650 4 |a Inflation dynamics 
650 4 |a Inflation equation 
650 4 |a Inflation objective 
650 4 |a Inflation process 
650 4 |a Inflation rate 
650 4 |a Inflation target 
650 4 |a Inflation targeting regime 
650 4 |a Inflation targeting 
650 4 |a Inflation 
650 4 |a Inflation-targeting 
650 4 |a Inflationary pressures 
650 4 |a Interest rates 
650 4 |a Lower inflation 
650 4 |a Macroeconomic stability 
650 4 |a Monetary aggregate 
650 4 |a Monetary aggregates 
650 4 |a Monetary authorities 
650 4 |a Monetary dynamics 
650 4 |a Monetary economics 
650 4 |a Monetary fund 
650 4 |a Monetary growth 
650 4 |a Monetary indicators 
650 4 |a Monetary policies 
650 4 |a Monetary policy decisions 
650 4 |a Monetary policy framework 
650 4 |a Monetary policy implementation 
650 4 |a Monetary policy reaction function 
650 4 |a Monetary policy regime 
650 4 |a Monetary policy regimes 
650 4 |a Monetary policy strategy 
650 4 |a Monetary policy transparency 
650 4 |a Monetary policy 
650 4 |a Monetary targets 
650 4 |a Monetary transmission process 
650 4 |a Monetary transmission 
650 4 |a Monetary union 
650 4 |a Money demand 
650 4 |a Money growth 
650 4 |a Money stock 
650 4 |a Open market operations 
650 4 |a Price Level 
650 4 |a Price stability 
650 4 |a Quantity theory 
650 4 |a Rate of inflation 
650 4 |a Real money 
650 4 |a Real output 
650 4 |a Rising inflation 
650 4 |a Value of money 
650 6 |a Ciblage d'inflation  |z Ghāna  |x Modèles économétriques 
650 7 |a Central Banks and Their Policies  |2 imf 
650 7 |a Deflation  |2 imf 
650 7 |a Demand for Money  |2 imf 
650 7 |a Demand for money  |2 imf 
650 7 |a Economic theory  |2 imf 
650 7 |a Inflation targeting  |2 imf 
650 7 |a Inflation  |2 imf 
650 7 |a Macroeconomics  |2 imf 
650 7 |a Macroeconomics: Production  |2 imf 
650 7 |a Monetary Policy  |2 imf 
650 7 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General  |2 imf 
650 7 |a Monetary base  |2 imf 
650 7 |a Monetary economics  |2 imf 
650 7 |a Monetary policy  |2 imf 
650 7 |a Money and Monetary Policy  |2 imf 
650 7 |a Money supply  |2 imf 
650 7 |a Money  |2 imf 
650 7 |a Output gap  |2 imf 
650 7 |a Price Level  |2 imf 
650 7 |a Prices  |2 imf 
650 7 |a Production and Operations Management  |2 imf 
650 7 |a Production  |2 imf 
651 4 |a Ghana 
651 7 |a Ghana  |2 fast 
651 7 |a Ghana  |2 imf 
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710 2 |a International Monetary Fund  |b African Department,  |e issuing body. 
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