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Monetary Policy

Learning About the Term Structure and Optimal Rules for Inflation Targeting

Mewael F. Tesfaselassie, Eric Schaling, Sylvester Eijffinger
In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework. We find that under flexible inflation targeting and uncertainty in the degree of persistence in the economy, allowing for active learning possibilities has effects on the optimal...
Oct 2007
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Reconsidering the business cycle and stabilisation policies in South Africa

Stan du Plessis
This paper applies an alternative dating algorithm - suggested by Harding and Pagan (for example, 2002a) - to identify the turning points of the South African business cycle. The characteristics of the resulting business cycle are analysed and compared with results obtained for the o¢cial cycle in...
Sep 2006
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