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230404 ||| eng |
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|a 9798400235436
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|a Andriantomanga, Zo
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|a Global Supply Chain Disruptions: Challenges for Inflation and Monetary Policy in Sub-Saharan Africa
|c Zo Andriantomanga, Marijn Bolhuis, Shushanik Hakobyan
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2023
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300 |
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|a 41 pages
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651 |
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4 |
|a United States
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653 |
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|a Supply and demand
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653 |
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|a Economic & financial crises & disasters
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653 |
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|a Interest rates
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653 |
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|a Energy: Demand and Supply
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653 |
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|a Inflation
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653 |
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|a Oil prices
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653 |
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|a Economic Theory
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653 |
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|a Financial services
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653 |
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|a Deflation
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653 |
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|a Economics: General
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653 |
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|a Supply shocks
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653 |
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|a Open Economy Macroeconomics
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653 |
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|a Informal sector; Economics
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653 |
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|a Food prices
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653 |
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|a Economic theory & philosophy
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653 |
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|a International Business Cycles
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653 |
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|a Prices, Business Fluctuations, and Cycles: Forecasting and Simulation
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653 |
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|a Economics of specific sectors
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653 |
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|a Price Level
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653 |
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|a Currency crises
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|a Banks and Banking
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|a Energy and the Macroeconomy
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653 |
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|a Prices
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653 |
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|a Macroeconomics
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653 |
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|a Banking
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653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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653 |
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|a Agriculture: Aggregate Supply and Demand Analysis
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653 |
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|a Economic theory
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653 |
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|a Monetary Policy
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653 |
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|a Central bank policy rate
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700 |
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|a Bolhuis, Marijn
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|a Hakobyan, Shushanik
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|a eng
|2 ISO 639-2
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|b IMF
|a International Monetary Fund
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|a IMF Working Papers
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|u https://elibrary.imf.org/view/journals/001/2023/039/001.2023.issue-039-en.xml?cid=530156-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a The Covid-19 pandemic has led to a large disruption of global supply chains. This paper studies the implications of supply chain disruptions for inflation and monetary policy in sub-Saharan Africa. Increases in supply chain pressures have had a sizeable impact on headline, food, and tradable inflation for a panel of 29 sub-Saharan African countries from 2000 to 2022. Our findings suggest that central banks can stabilize inflation and output more efficiently by monitoring global supply chains and adjusting the monetary policy stance before the disruptions have fully passed through into all inflation components. The gains from monitoring supply chain disruptions are particularly large for open economies which tend to experience outsized second-round effects on the prices of non-tradable goods and services
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