SCIRP Mobile Website
Paper Submission

Why Us? >>

  • - Open Access
  • - Peer-reviewed
  • - Rapid publication
  • - Lifetime hosting
  • - Free indexing service
  • - Free promotion service
  • - More citations
  • - Search engine friendly

Free SCIRP Newsletters>>

Add your e-mail address to receive free newsletters from SCIRP.

 

Contact Us >>

WhatsApp  +86 18163351462(WhatsApp)
   
Paper Publishing WeChat
Book Publishing WeChat
(or Email:book@scirp.org)

Article citations

More>>

G. A. Akerlof, W. Dickens and G. Perry, “Near-Rational Wage and Price Setting and the Long-Run Phillips Curve,” Brookings Papers on Economic Activity, 2000, Vol. 1, pp. 1-60.

has been cited by the following article:

  • TITLE: Price Stability and the Growth Maximizing Rate of Inflation for Ghana

    AUTHORS: Peter Quartey

    KEYWORDS: Economic Development, Fiscal and Monetary Policy

    JOURNAL NAME: Modern Economy, Vol.1 No.3, November 19, 2010

    ABSTRACT: Monetary policy in Ghana, which is typical of many central banks, over the years, has focused on ensuring price stability or low inflation. The aim of the policy of price stability is to provide a stable environment for real sector activities to flourish. However, the outcome of the policy on real sector activities has not been subjected to any empirical investigation and this forms the focus of the study. For instance, the Central Bank has focused on single digit inflation and whether such a low rate is growth maximizing is yet to be ascertained. The study therefore investigates the revenue maximizing and the ‘growth maximizing’ rate of inflation for Ghana using data from Bank of Ghana and WDI. The study finds that economic performance is higher under low inflation era than when inflation is high. It also established the revenue maximizing rate of inflation using the Laffer curve approach is lower than the growth maximizing rate of inflation. Also, from the results, it can be deduced that the single digit inflation target set by the Central bank is not growth maximizing.