The paper looks at the challenges of conducting monetary policy in a context of high dollarization of the banking … available to enhance the effectiveness of monetary policy are limited. After exploring the pros and cons of different exchange … regimes we conclude that strengthening the current monetary policy framework remains the first-best option, given the country …

date. Then we enlarge the scope by looking at the monetary policy surprise effects on the same sample of (re)insurers over … sensitivity to monetary policy actions. Our evidences suggest that a single intervention extrapolated from the comprehensive … strategy cannot be utilized to estimate the effect of monetary policy intervention on the market. With respect to the impact of …

date. Then we enlarge the scope by looking at the monetary policy surprise effects on the same sample of (re)insurers over … sensitivity to monetary policy actions. Our evidences suggest that a single intervention extrapolated from the comprehensive … strategy cannot be utilized to estimate the effect of monetary policy intervention on the market. With respect to the impact of …

in the analysis of monetary policy in low-income countries (LICs), with an application to Kenya. We provide a general … systematic role in monetary policy, and (iii) target misses mainly reflect shocks to money demand. Simulations of the model under …. Our findings highlight the benefits of a model-based approach to monetary policy analysis in LICs, including in countries …

Many central banks in low-income countries in Sub-Saharan Africa are modernising their monetary policy frameworks …. Here we take a narrative approach, following Romer and Romer (1989), and center on a significant tightening of monetary … policy that took place in 2011 in four members of the East African Community: Kenya, Uganda, Tanzania and Rwanda. We find …

frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy … frameworks of CADR is key to improving the effectiveness of monetary policy. The paper reviews the literature on the reforms … needed for strengthening the monetary policy frameworks, and examines the experiences of IT countries, Chile, Peru, and …

This paper provides a comprehensive overview of the use of the Eurosystem's monetary policy instruments and the …, patterns of reserve fulfilment, outright asset purchase programmes, as well as the impact of the ECB's monetary policy …