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Global Shocks Alert and Monetary Policy Responses

Olatunji Shobande, Oladimeji Shodipe and Simplice Asongu

MPRA Paper from University Library of Munich, Germany

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 E60 (search for similar items in EconPapers)
Date: 2019-01
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://mpra.ub.uni-muenchen.de/101794/1/MPRA_paper_101794.pdf original version (application/pdf)

Related works:
Working Paper: Global Shocks Alert and Monetary Policy Responses (2019) Downloads
Working Paper: Global Shocks Alert and Monetary Policy Responses (2019) Downloads
Working Paper: Global Shocks Alert and Monetary Policy Responses (2019) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:101794

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