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Exiting From Fragility in sub-Saharan Africa
			: The Role of Fiscal Policies and Fiscal Institutions

Exiting From Fragility in sub-Saharan Africa : The Role of Fiscal Policies and Fiscal Institutions »

Volume/Issue: 2015/268

Series: IMF Working Papers

Author(s): Corinne Deléchat , Ejona Fuli , Dafina Glaser , Gustavo Ramirez , and Rui Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2015

DOI: http://dx.doi.org/10.5089/9781513591315.001

ISBN: 9781513591315

Keywords: fragility, resilience, fiscal institutions, CPIA, revenue, taxes, tax, budget, Macroeconomic Analyses of Economic Development, Fiscal and Monetary Policy in Development

This paper studies the role of fiscal policies and institutions in building resilience in sub-Saharan African countries during 1990-2013, with specific emphasis on a group of twenty-six countries that were deemed f...

Introducing a Semi-Structural Macroeconomic Model for Rwanda

Introducing a Semi-Structural Macroeconomic Model for Rwanda »

Volume/Issue: 2014/159

Series: IMF Working Papers

Author(s): Luisa Charry , Pranav Gupta , and Vimal Thakoor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2014

DOI: http://dx.doi.org/10.5089/9781498398343.001

ISBN: 9781498398343

Keywords: Monetary Transmission Mechanisms, inflation, real interest rate, aggregate demand, monetary fund, Forecasting and Simulation, Monetary Policy (Targets, Instruments, and Effects), Fiscal and Monetary Policy in Development,

We develop a simple semistructural model for the Rwandan economy to better understand the monetary policy transmission mechanism. A key feature of the model is the introduction of a modified uncovered interest pari...

Monetary Transmission Mechanism in the East African Community
			: An Empirical Investigation

Monetary Transmission Mechanism in the East African Community : An Empirical Investigation »

Volume/Issue: 2013/39

Series: IMF Working Papers

Author(s): Hamid Davoodi , S. V. S. Dixit , and Gabor Pinter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2013

DOI: http://dx.doi.org/10.5089/9781475530575.001

ISBN: 9781475530575

Keywords: reserve money, policy rate, vector autoregressions, inflation, monetary transmission, central bank, monetary policy framework, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments

Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical infer...

The Monetary Transmission Mechanism in the Tropics
			: A Narrative Approach

The Monetary Transmission Mechanism in the Tropics : A Narrative Approach »

Volume/Issue: 2013/197

Series: IMF Working Papers

Author(s): Andrew Berg , Luisa Charry , Rafael Portillo , and Jan Vlcek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2013

DOI: http://dx.doi.org/10.5089/9781484398135.001

ISBN: 9781484398135

Keywords: Monetary Transmission Mechanisms, monetary policy, inflation, central bank, monetary fund, monetary transmission, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments, and Effects),

Many central banks in low-income countries in Sub-Saharan Africa are modernising their monetary policy frameworks. Standard statistical procedures have had limited success in identifying the channels of monetary tr...

9 Implementation Errors and Incomplete Information

9 Implementation Errors and Incomplete Information »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction As discussed in Chapter 6, recent empirical work has failed to find much evidence of a monetary transmission mechanism in low-income countries, including in Africa. So...

11 Implications of Food Subsistence for Monetary Policy and Inflation

11 Implications of Food Subsistence for Monetary Policy and Inflation »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Central banks in low-income countries (LICs) have been adopting elements of inflation targeting since the mid-1990s, including an elevated focus on price stability and...

19 Inflation Forecast Targeting in a Low-Income Country: The Case of Ghana

19 Inflation Forecast Targeting in a Low-Income Country: The Case of Ghana »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction Over the past two decades, numerous monetary authorities have used inflation targeting to solve a chronic inflation problem. 1...

2 Inflation Targeting in Uganda

2 Inflation Targeting in Uganda »

Source: Monetary Policy in Sub-Saharan Africa

Series: Books

Author(s): Andrew Berg , and Rafael Portillo

Publisher: Oxford University Press

Publication Date: 27 April 2018

ISBN: 9780198785811

Keywords: Monetary policy, Sub-Saharan Africa

1 Introduction The Bank of Uganda (BOU) introduced its inflation targeting (IT) monetary policy framework in July 2011, replacing a monetary targeting (MT) framework which had been i...

Interview with Eduardo Borensztein and Paolo Mauro: Reviving the case for GDP-indexed bonds

Interview with Eduardo Borensztein and Paolo Mauro: Reviving the case for GDP-indexed bonds »

Source: IMF Survey, Volume 31, Issue 21

Volume/Issue: 31/21

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2002

ISBN: 9781451926149

Keywords: technical assistance, capacity-building, member countries, public expenditure, monetary policy, East afritac opening,

Tanzanian President Benjamin William Mkapa’s remarks on the inauguration of East AFRITAC could not have been clearer or more emphatic. If Africa is to define its own economic destiny, it must strengthen its...

Introducing a Semi-Structural Macroeconomic Model for Rwanda

Introducing a Semi-Structural Macroeconomic Model for Rwanda »

Source: Introducing a Semi-Structural Macroeconomic Model for Rwanda

Volume/Issue: 2014/159

Series: IMF Working Papers

Author(s): Luisa Charry , Pranav Gupta , and Vimal Thakoor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2014

ISBN: 9781498398343

Keywords: Monetary Transmission Mechanisms, inflation, real interest rate, aggregate demand, monetary fund, Forecasting and Simulation, Monetary Policy (Targets, Instruments, and Effects), Fiscal and Monetary Policy in Development,

We develop a simple semistructural model for the Rwandan economy to better understand the monetary policy transmission mechanism. A key feature of the model is the introduction of a modified uncovered interest pari...