Global Shocks Alert and Monetary Policy Responses

Olatunji Shobande (), Oladimeji Shodipe () and Simplice Asongu
Additional contact information
Olatunji Shobande: Business School, University of Aberdeen, UK
Oladimeji Shodipe: Eastern Illinois University, USA

No 19/066, Working Papers from European Xtramile Centre of African Studies (EXCAS)

Abstract: The study examines the role of global predictors on national monetary policy formation for Kenya and Ghana within the New Keynesian DSGE framework. We developed and automatically calibrated our DSGE model using the Bayesian estimator, which made our model robust to rigorous stochastic number of subjective choices. Our simulation result indicates that global factors account for the inability of national Central Banks to predict the behaviour of macroeconomic and financial variables among these developing nations.

Keywords: Business Cycle; Macroeconomic policy; Financial crises (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Pages: 35
Date: 2019-01
New Economics Papers: this item is included in nep-dge, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://publications.excas.org/RePEc/exs/exs-wpaper ... Policy-Responses.pdf Revised version, 2019 (application/pdf)

Related works:
Working Paper: Global Shocks Alert and Monetary Policy Responses (2019)
Working Paper: Global Shocks Alert and Monetary Policy Responses (2019)
Working Paper: Global Shocks Alert and Monetary Policy Responses (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:exs:wpaper:19/066

Access Statistics for this paper

More papers in Working Papers from European Xtramile Centre of African Studies (EXCAS)
Bibliographic data for series maintained by Anutechia Asongu Simplice ().