A Model for Monetary Policy Analysis for Sub-Saharan Africa |
| |
Authors: | Romain Houssa Christopher Otrok Radu Puslenghea |
| |
Institution: | (1) CRED & CEREFIM, University of Namur, Namur, Belgium;(2) Department of Economics, University of Virginia, PO Box 400182, Charlottesville, VA 22904-4182, USA;; |
| |
Abstract: | We develop a small open economy DSGE model usable for monetary policy in Sub-Saharan Africa. In this paper we apply the model
to quarterly data from Ghana from 1981–2007. We find that permanent, but not transitory, technology shocks are the most important
source of fluctuations. We find that the estimated monetary policy rule suggests that policy is aimed almost exclusively at
fluctuations in output and ignores inflation, imports and exports. A negative result is that there appears to be significant
issues in identifying some important parameters. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|