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A structural model of the inflation process in South Africa

Abstract:

We build a 4-equation model of the inflation process in South Africa (which has recently adopted inflation targeting), including the exchange rate, consumer prices, producer price, and import prices. This provides useful information on the speed and extent of exchange rate pass-through, and illuminates the various channels through which monetary policy influences inflation. The model is in the tradition of central bank models of the inflation process, but carefully tests for asymmetries, stru...

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Publication status:
Published
Peer review status:
Not peer reviewed

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Sub department:
CSAE
Research group:
Governance and Inflation Targeting in South Africa
Role:
Author
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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Research group:
Governance and Inflation Targeting in South Africa
Oxford college:
Nuffield College
Role:
Author
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Institution:
Stellenbosch University
Department:
Bureau of Economic Research
Role:
Author
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Funding agency for:
Muellbauer, J
Grant:
000 23-0244
Series:
CSAE working paper series
Place of publication:
http://www.csae.ox.ac.uk/workingpapers/main-wps.html
Publication date:
2004-01-01
Language:
English
Keywords:
Subjects:
UUID:
uuid:c681fe2a-5199-478b-a0b8-857ca99b8709
Local pid:
ora:2652
Deposit date:
2009-03-02

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