Central bank should consider sticky-price inflation as target variable – paper
South African working paper argues central bank should consider sticky-price inflation as target variable
A working paper published by the South African Reserve Bank (Sarb) has argued the central bank should consider using sticky-price inflation as its target variable.
Using micro-price data, Franz Ruch, Neil Rankin and Stan du Plessis decompose goods inflation into a flexible and stick-price inflation measure for South Africa at a product level from 2008 to 2015.
Their paper, Decomposing inflation using micro-price-level data: sticky-price inflation, notes prices that are sticky contain more
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