Exchange rate, price, and output inter-relationships in Ghana: evidence from vector autoregressions

Author:
Publisher website
Google Scholar
Abstract
This paper explores the dynamic inter-relationships among the currency exchange rate, consumer price inflation, and real output growth, as well as the roles of money and interest rates in output and price determination. Time series data and vector autoregression models are used. Results suggest that there are significant inter-relationships between the exchange rate and inflation, monetary shocks matter only when explaining money itself and the price level, and interest rate-dependent monetary policies in the absence of financial modernization are ineffective

This publication has 5 references indexed in Scilit: