Monetary Policy in Low Income Countries in the Face of the Global Crisis: The Case of Zambia

Working Paper No. 12/94

We develop a DSGE model with a banking sector to analyze the impact of the financial crisis on Zambia and the role of the monetary policy response. We view the crisis as a combination of three related shocks: a worsening in the terms of the trade, an increase in the country's risk premium, and a decrease in the risk appetite of local banks. We... READ MORE...

Publication date: April 2012
ISBN 9781475502848

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Publication date: April 2012


Publication date: April 2012