Equations 1 to 3 set out a simple model of inflation dynamics that assumes that productivity affects wages and prices symmetrically. In this case, an acceleration in productivity has no effect on the relationship between inflation and the unemployment rate. 1. 2.
Undeniably, cash still remains the preferred medium of payment by the large informal sector, although trends are gradually shifting towards mobile money in Ghana. Thus, while making progress in financial inclusion by accelerating the migration to e-payment platforms, we are also mindful of the relevance of cash in our day-to-day dealings.