The study is to assess the relationships among the foreign exchange market, money market, and stock market in Ghana extending from January 2000 to March 2015, using the Autoregressive Distributed Lag framework and error correction methodology. The results indicate that there is a long-run...

Price stability is one of the major goals of monetary policy and the key indicators of macroeconomic stability. Pursuing of price stability is primary to long-run growth and development; it should be the concern of every economy. This study examine the factors in determining inflation in...

Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag model is chosen. The results show that a sharp...