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 …

During and after the Great Recession of 2008-09, conventional monetary policy in the United States and many other … monetary stimulus. Gauging the effectiveness of LSAPs is important, since the ELB may be a constraint on conventional monetary … policy more frequently in the future than it was in the past. In this paper we analyze two distinct periods where we observe …

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 …