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: | , , , |
|---|---|
| Format: | Journal article |
| Published: |
Blackwell Publishing Ltd
2009
|