Inflation, Exchange Rates and Interest Rates in Ghana: An Autoregressive Distributed Lag Model

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F15%3A43906553" target="_blank" >RIV/62156489:43110/15:43906553 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/62156489:43310/15:43906553

Výsledek na webu

<a href="http://acta.mendelu.cz/media/pdf/actaun_2015063030969.pdf" target="_blank" >http://acta.mendelu.cz/media/pdf/actaun_2015063030969.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.11118/actaun201563030969" target="_blank" >10.11118/actaun201563030969</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Inflation, Exchange Rates and Interest Rates in Ghana: An Autoregressive Distributed Lag Model

Popis výsledku v původním jazyce

This paper investigates the impact of exchange rate movement and the nominal interest rate on inflation in Ghana. It also looks at the presence of the Fisher Effect and the International Fisher Effect scenarios. It makes use of an autoregressive distributed lag model and an unrestricted error correction model. Ordinary Least Squares regression methods were also employed to determine the presence of the Fischer Effect and the International Fisher Effect. The results from the study show that in the shortrun a percentage point increase in the level of depreciation of the Ghana cedi leads to an increase in the rate of inflation by 0.20%. A percentage point increase in the level of nominal interest rates however results in a decrease in inflation by 0.98%.Inflation increases by 1.33% for every percentage point increase in the nominal interest rate in the long run. An increase in inflation on the other hand increases the nominal interest rate by 0.51% which demonstrates the partial Fisher

Název v anglickém jazyce

Inflation, Exchange Rates and Interest Rates in Ghana: An Autoregressive Distributed Lag Model

Popis výsledku anglicky

This paper investigates the impact of exchange rate movement and the nominal interest rate on inflation in Ghana. It also looks at the presence of the Fisher Effect and the International Fisher Effect scenarios. It makes use of an autoregressive distributed lag model and an unrestricted error correction model. Ordinary Least Squares regression methods were also employed to determine the presence of the Fischer Effect and the International Fisher Effect. The results from the study show that in the shortrun a percentage point increase in the level of depreciation of the Ghana cedi leads to an increase in the rate of inflation by 0.20%. A percentage point increase in the level of nominal interest rates however results in a decrease in inflation by 0.98%.Inflation increases by 1.33% for every percentage point increase in the nominal interest rate in the long run. An increase in inflation on the other hand increases the nominal interest rate by 0.51% which demonstrates the partial Fisher

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

—

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

ISSN

1211-8516

e-ISSN

—

Svazek periodika

63

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

9

Strana od-do

969-977

Kód UT WoS článku

—

EID výsledku v databázi Scopus

—