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Asymmetric effects in the Polish monetary policy rule

Sznajderska, Anna - In: Economic Modelling 36 (2014) C, pp. 547-556

to the level of inflation gap and the level of output gap. Moreover, we test whether these asymmetries might possibly … output gap when the output gap is relatively high. Thus, the asymmetries in the monetary policy rule seem to indicate …

Persistent link: https://www.econbiz.de/10010729807

Optimal monetary policy reaction function in a model with target zones and asymmetric preferences for South Africa

Naraidoo, Ruthira; Raputsoane, Leroi - In: Economic Modelling 28 (2011) 1, pp. 251-258

This paper estimates the optimal response of the SARB to deviations of inflation and output from their target values over the inflation targeting era. This is achieved using an empirical framework that allows the central bank's policy preferences to be zone-like and asymmetric. The first major...

Persistent link: https://www.econbiz.de/10010573360