Degree of price rigidity in LICs and implication for monetary policy

Sahawal Alidou

MPRA Paper from University Library of Munich, Germany

Abstract: Using semi-aggregate data on price and a methodology based on dummy indicator, we assess price rigidity in Ghana and discuss its implications for monetary policy. Price features in Ghana are compared to that of South Africa which is a similar country both in terms of economic structure and monetary policy framework. Our results suggest higher price rigidity in South Africa than in Ghana. Therefore, the same monetary policy is likely to have ceteris paribus, more real effects in South Africa and more nominal effects in Ghana.

Keywords: Price rigidity; monetary policy; frequency of price changes (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
Date: 2014-06
New Economics Papers: this item is included in nep-mac and nep-mon
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Citations: View citations in EconPapers (2)

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