Stick-in-the-mud Yankee hobgoblin (4)

I believe the answer is:

bogy

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'hobgoblin' is the definition.
(I've seen this in another clue)

'stick-in-the-mud yankee' is the wordplay.
'stick-in-the-mud' becomes 'bog' (I can't explain this - if you can you should believe this answer much more).
'yankee' becomes 'Y' (phonetic alphabet: alpha, bravo, charlie etc.).
'bog'+'y'='BOGY'

Can you help me to learn more?

(Other definitions for bogy that I've seen before include "thing feared" , "Evil mischievous spirit" .)

I've seen this clue in the Sydney Morning Herald.

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