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A Macro-Model to Monetary Transmission Analysis in Tunisia

Aymen Makni ()
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Aymen Makni: Central Bank of Tunisia

No 13-2019, IHEID Working Papers from Economics Section, The Graduate Institute of International Studies

Abstract: In this paper, we develop a gap model based on a reduced form of the New Keynesian Model. The model offers various scenario structure tools which analyze the dynamics of key macroeconomic variables under diverse shocks and depicts their properties and historical decompositions. This framework rationalizes the monetary transmission mechanism as well as the effects of major shocks influencing the macroeconomic variables and can assess the role of monetary policy in reacting to observed and anticipated changes in inflation and other economic variables. This model provides a useful framework detailing monetary policy and helping policymakers mainly to react strongly to inflation.

Keywords: Monetary Policy; Central Banks and Their Policies; Macroeconomic Model; Monetary Transmission Mechanism (search for similar items in EconPapers)
JEL-codes: E52 E58 E10 E50 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2019-06
New Economics Papers: this item is included in nep-ara, nep-dge, nep-mac and nep-mon
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