Monetary policy rules for managing aid surges in Africa
This paper examines the properties of alternative monetary policy rules in response to large aid surges in low-income countries characterized by incomplete capital market integration and currency substitution. Using a dynamic stochastic general equilibrium model, it is shown that simple monetary rul...
| Main Authors: | , , , |
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| Format: | Journal article |
| Sprog: | English |
| Udgivet: |
Blackwell Publishing Ltd
2009
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