impulse responses to monetary policy shocks, and cumulatively they suggest that 'insignificant' results can be expected even …

What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical …

prudence confronts many challenges. This paper discusses what low-income countries can do to shape fiscal policy frameworks … expenditure programs and finances. It suggests what approaches can be used to manage the greater fiscal policy risks associated … with a scaled-up aid environment, including coordination with monetary policy. The paper also discusses what institutional …

We develop a simple semistructural model for the Rwandan economy to better understand the monetary policy transmission … structural features of Rwanda's economy and policy framework, such as the limited degree of capital mobility. A filtration of the …

Despite the voluminous literature on fiscal policy, very few papers focus on low-income countries (LICs). This paper … home bias-play a key role in determining the effects of fiscal policy and related multipliers in these countries. External …

inflation and smoothing the policy interest rate; and (2) ignoring financial frictions when evaluating policy rules can be …

forecasting and monetary policy analysis in low-income countries and apply it to Kenya. We use the model to run several policy … last few years, with a special emphasis on the various factors (international food prices, monetary policy) driving … inflation. Third, we perform an out-of-sample forecast to identify where the economy — and therefore policy — was likely headed …

fragile states is affected by highly volatile domestic factors that complicate monetary policy’s ability to deliver price … contribution of monetary policy shocks to inflation is moderate, reflecting its broadly neutral stance throughout most of the last … two decades. However, monetary policy has occasionally made larger contributions to inflation, and recently helped contain …

The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to … model with endogenously determined policy credibility and an effective lower bound is developed for forecasting and policy … inflation target over the medium term is below 40 percent, assuming the absence of other policy reactions aside from monetary …