I study the implications of productivity shocks in a model where agents observe the aggregate level of productivity but … shock is sluggish and peaks with delay; (ii) permanent shocks generate positive rather than negative savings on impact; and …

Economic activity in Kenya has remained resilient to uncertainty surrounding the elections, the impact of the European …

This Joint Staff Advisory Note focuses on the Poverty Reduction Strategy Paper (PRSP) for Kenya. Kenya’s second …

KEY ISSUES Context: Kenya has embarked on major reforms in line with the 2010 constitution. The new government has …. Kenya placed its first US$2 billion Eurobond at favorable terms, with proceeds to be used to upgrade power generation and … fiscal resources. Kenya is actively participating in the integration of East Africa, showing progress in reducing delays from …

in the analysis of monetary policy in low-income countries (LICs), with an application to Kenya. We provide a general … target misses in terms of structural shocks (aggregate demand, policy, shocks to money demand, etc). In the case of Kenya, we …

policy that took place in 2011 in four members of the East African Community: Kenya, Uganda, Tanzania and Rwanda. We find …

forecasting and monetary policy analysis in low-income countries and apply it to Kenya. We use the model to run several policy … recover the sequence of domestic and foreign macroeconomic shocks that account for business cycle dynamics in Kenya over the …