Statistics & Publication
Staff Working Papers and Policy Briefs
Forecasting Real Interest Rates Using the Yield Curve: Evidence From Ghana.
Wednesday, 30 June 2004 00:00
The high acclaim of the term structure theory among policymakers in both developed and developing economies stems from the increased empirical realization that the slope of the yield curve (the yield spread) is capable of explaining future changes in rates of output, inflation and real interest (Plosser and Rouwenhorst, 1994; Dotsey, 1998; Fama, 1984; Fama and Bliss, 1987; Campbell and Shiller, 1987; Hardouvelis, 1988; Mishkin, 1988). Evidently, knowledge of the nature of future changes in these variables is deemed to, among other things, aid the implementation of monetary policy, the pricing of securities and the testing of term structure theories (Bolder and Streliski, 1999).

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Financial Innovation and the Demand for Money in Ghana
Wednesday, 30 June 2004 00:00
The rising importance of the financial sector in the economic development of developing countries, as well as the rapid rate of innovation in that sector have generated a growing
research interest in financial innovation.

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Determinants of the Cedi/Dollar Rate of Exchange in Ghana: A Monetary Approach
Monday, 31 May 2004 00:00
Prior to the advent of the economic recovery program, Ghana’s exchange rate policy had involved the maintenance of a fixed exchange rate regime with occasional devaluation, and
exchange rationing

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Estimating a Composite Indicator of Economic Activity for Ghana
Tuesday, 30 September 2003 00:00

Economic policy requires a high degree of foresight because policy actions typically take effect only after a long lag. In the light of these policy needs, it is now routine for policy makers, central banks and economic research institutes to report and analyse an array of so-called leading indicators that are supposed to give a clear indication of the status of the real economy.
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A Note on Exchange Market Pressure Index for Ghana
Friday, 30 May 2003 00:00
Under a market-based exchange rate regime, the characterization of foreign exchange market conditions is important information for domestic monetary policy decisions that seek to impact the exchange rate.

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Staff Working Papers and Policy Briefs