In this paper we obtain conditions under which the central bank loss function is strictly convex in four different states of the economy: booming economy, recession, high inflation and high output. Moreover, we found that when inflation and output are linear functions of the monetary policy...

This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the econometric results indicate that government...

В статье исследована проблема определения лагов при применении инструментов стабилизационной финансовой политики государства. Автором обоснован...

The paper looks at the challenges of conducting monetary policy in a context of high dollarization of the banking system and weak institutions in the Democratic Republic of the Congo. The empirical analysis confirms the limited effectiveness of the Central Bank of Congo in controlling inflation,...

This Selected Issues paper examines the monetary policy framework in Sudan, and assesses the effectiveness of monetary transmission mechanism since the secession of South Sudan. The econometric analysis concludes that reserve money, the exchange rate, and private sector credit are the main...

Рассмотрены и обоснованы подходы к формированию монетарной политики в посткризисных условиях. Исследована роль центральных банков в регулировании финансового...