The exchange rate channel and monetary policy transmission in Namibia
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Date
2015
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Nelson Mandela Metropolitan University
Abstract
This paper investigates the exchange rate channel of monetary policy transmission in Namibia
over the quarterly 1993:Q1 - 2011:Q4. The empirical analysis was conducted using innovation
accounting tools such as generalised impulse response functions and forecast error variance
decompositions obtained from a structural vector autoregressive model (SVAR). The results show
that the exchange rate channel is operational. That is, changes in the monetary policy
instruments affect the exchange rate variable which in turn transmits the shocks to output and
prices but weak and not so significant.
Description
Keywords
Namibia, Monetary policy, Exchange rate channel, Fixed exchange rate, Structural vector auto-regression
Citation
Sheefeni, J.P., & Ocran, M. (2015). The exchange rate channel and monetary policy transmission in Namibia. Journal for Development and Leadership,4(2), 14-54