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Monetary Policy Response to Foreign Aid in an Estimated DSGE Model of Malawi

Author

Listed:
  • Chance Mwabutwa
  • Manoel Bittencourt
  • Nicola Viegi

Abstract

This paper estimates a Bayesian Dynamic Stochastic General Equilibrium (DSGE) model of Malawi and uses it to account for short-run monetary policy response to aid inflows between 1980 and 2010. In particular, the paper evaluates the existence of a “Dutch Disease†following an increase in foreign aid and examines the Reserve Bank of Malawi (RBM) […]

Suggested Citation

  • Chance Mwabutwa & Manoel Bittencourt & Nicola Viegi, 2013. "Monetary Policy Response to Foreign Aid in an Estimated DSGE Model of Malawi," Working Papers 350, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:350
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    File URL: https://econrsa.org/wp-content/uploads/2022/06/working_paper_350.pdf
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    Cited by:

    1. Kazeem Abimbola Sanusi & Zandri Dickason-Koekemoer, 2023. "Fiscal and Monetary Policies Interactions in Nigeria and South Africa: Dynamic Stochastic General Equilibrium Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 13(5), pages 21-31, September.

    More about this item

    Keywords

    central bank; Consumer Behavior; International Agreements ; International trade; Macroeconomic Models; Monetary Policy; Natural Resources Management;
    All these keywords.

    JEL classification:

    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F35 - International Economics - - International Finance - - - Foreign Aid

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