Title A Bayesian-estimated model of inflation targeting in South Africa / prepared by Thomas Harjes and Luca Antonio Ricci

Published Washington, D.C. : International Monetary Fund, European and Research Depts., 2008

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Description 1 online resource (24 pages) : illustrations Series IMF working paper ; WP/08/48 IMF working paper ; WP/08/48. 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 Bibliography Includes bibliographical references (pages 23-24) Notes 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 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Inflation (Finance) -- South Africa -- Econometric models Anti-inflationary policies -- South Africa -- Econometric models Transmission mechanism (Monetary policy) -- South Africa -- Econometric models Anti-inflationary policies -- Econometric models. Economic history. Economic policy -- Econometric models. Inflation (Finance) -- Econometric models. SUBJECT South Africa -- Economic conditions -- Econometric models South Africa -- Economic policy -- Econometric models Subject South Africa. Form Electronic book Author Ricci, Luca Antonio, author. International Monetary Fund. European Department. International Monetary Fund. Research Department.

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