South Africa: Selected Issues
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Summary:
This Selected Issues paper for South Africa presents a quantitative analysis of inflation dynamics in the country. The conduct of monetary policy has been complicated by a variety of unanticipated events that have had important effects on inflation. Exposed to exchange rate and other shocks, the model confirms that a delayed policy response to inflation shocks leads to persistently higher inflation rates and, subsequently, to a sharp real contraction of the economy.
Series:
Country Report No. 2005/345
Subject:
English
Publication Date:
September 19, 2005
ISBN/ISSN:
9781451966763/1934-7685
Stock No:
1ZAFEA2005001
Pages:
99
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