Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
Ilzetzki, Reinhart, and Rogoff (2010) [IRR] classification codes
1
N...
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
Our data set includes observations for the following periods (data for the United States, Canada, and the oil price are available for as long as is necessary for our purposes)....
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
Impulse responses functions are plotted below for the five endogenous variables and the five structural shocks. The dotted lines represent bootstrapped 90 percent confidence bands. United States* and Kenya*,...
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
Variance Decompositions with the United States*
Burundi...
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
This paper identifies the degree of susceptibility of the EAC economies to asymmetric shocks; assesses the value of the exchange rate as a shock absorber for these countries; and reviews adjustment mechanism...
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
DOI: http://dx.doi.org/10.5089/9781513562179.087
ISBN: 9781513562179
This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanism...
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
When joining a currency union, countries give up control of their national currencies and can no longer count on the nominal exchange rate to stabilize their economies in the face of country-specific shocks....
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
This section assesses susceptibility of the EAC countries to asymmetric shocks by first, looking at the similarity of economic structures across the region; second, examining the nature of recen...
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
In late 2013 the East African Community (EAC) countries (Burundi, Kenya, Rwanda, Tanzania, and Uganda) signed a joint protocol setting out the process and convergence criteria for an EAC monetary union. The...
Series: Departmental Papers / Policy Papers
Author(s):
Paulo Drummond
,
Ari Aisen
,
Emre Alper
,
Ejona Fuli
, and
Sébastien Walker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2015
ISBN: 9781513562179
The previous sections described some of the challenges that are likely to emerge in the lead up to the EAC Monetary Union. First, there is wide prevalence of asymmetric shocks in the member coun...