Hove, Seedwell; Mama, Albert Touna; Tchana, Fulbert Tchana - Economic Research Southern Africa (ERSA) - 2012
Commodity terms of trade shocks have continued to drive macroeconomic ‡uctuations in most emerging market economies. The volatility and persistence of these shocks have posed great challenges for monetary policy. This study employs a New Keynesian Dynamic Stochastic General Equilibrium...