Mwabutwa, Chance; Bittencourt, Manoel; Viegi, Nicola - Department of Economics, Faculty of Economic and … - 2013
This paper investigates the evolution of monetary transmission mechanism in Malawi between 1981 and 2010 using a time varying parameter vector autoregressive (TVP-VAR) model with stochastic volatility. We evaluate how the responses of real output and general price level to bank rate, exchange...
