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Policy regime changes and central bank prefernces

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  • Samuel Addo

Abstract

This paper establishes whether central bank preferences are related to governors’ preferences when there is a change in policy regime. We use a time-varying parameter approach that allows the policy preferences to vary over the sample period. The results show that the policy parameters exhibit significant changes and that the South African Reserve Bank places […]

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  • Samuel Addo, 2018. "Policy regime changes and central bank prefernces," Working Papers 752, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:752
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    More about this item

    Keywords

    central bank; Impact Evaluation; Inflation; productivity; South Africa;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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