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How Central Bank Responds to Macroeconomic Shocks? Specification, Estimation and Analysis of Monetary Policy Reaction Function: The Case of Ethiopia (1991-2005)
2006
This paper presents a model of monetary policy in Ethiopia after financial liberalization policy adopted. It is designed to identify both the goals and pattern of policy with the two major aims: firstly to know the way how National Bank of Ethiopia systematically responds to macroeconomic shocks and secondly to evaluate the performance monetary policy against its initial objective including assessment of gap analyses in monetary policy frame work. Hence, the model demonstrates that the National
doi:10.20372/nadre/8744
fatcat:uydozh36t5bh3bd7fvnigriwue