Herzegovina, Macedonia and Serbia), lower expected inflation rate, real exchange rate appreciation, a lower world interest rate … which is calculated like a federal funds rate minus inflation in US, and more world output would help to increase output of …

In Africa, a number of countries like South Africa have adopted inflation targeting. In Nigeria, different monetary … policy regimes have been adopted over the years with rather unsatisfactory success. This study examines inflation targeting … 2016. The study unravels evidence of a significant response of inflation and squared inflation to policy interest rates in …