PandemieGrippaleV1, Hal, Corpus, bibRecord, 000088

COVID-19 uncertainty and monetary policy

Identifieur interne : 000088 ( Hal/Corpus ); précédent : 000087; suivant : 000089

COVID-19 uncertainty and monetary policy

Auteurs : Christian Pinshi

Source :

RBID : Hal:hal-02566796

English descriptors

mix :
- Bayesian VAR, COVID-19, Monetary policy, Uncertainty.

Abstract

The uncertainty of COVID-19 seriously disrupts the Congolese economy through various macroeconomic channels. This pandemic is influencing the management of monetary policy in its role as regulator of aggregate demand and guarantor of macroeconomic stability. We use a Bayesian VAR framework (BVAR) to provide an analysis of the COVID uncertainty shock on the economy and the monetary policy response. The analysis shows important conclusions. The uncertainty effect of COVID-19 hits unprecedented aggregate demand and the economy. In addition, it undermines the action of monetary policy to soften this fall in aggregate demand and curb inflation impacted by the exchange rate effect. We suggest a development of unconventional devices for a gradual recovery of the economy. Jels code: C32, E32, E51, E52, E58

Url:

https://hal.archives-ouvertes.fr/hal-02566796

Links to Exploration step

Hal:hal-02566796

Le document en format XML

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<front><div type="abstract" xml:lang="en">              <p>The uncertainty of COVID-19 seriously disrupts the Congolese economy through various macroeconomic channels. This pandemic is influencing the management of monetary policy in its role as regulator of aggregate demand and guarantor of macroeconomic stability. We use a Bayesian VAR framework (BVAR) to provide an analysis of the COVID uncertainty shock on the economy and the monetary policy response. The analysis shows important conclusions. The uncertainty effect of COVID-19 hits unprecedented aggregate demand and the economy. In addition, it undermines the action of monetary policy to soften this fall in aggregate demand and curb inflation impacted by the exchange rate effect. We suggest a development of unconventional devices for a gradual recovery of the economy. Jels code: C32, E32, E51, E52, E58</p>
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            <abstract xml:lang="en">              <p>The uncertainty of COVID-19 seriously disrupts the Congolese economy through various macroeconomic channels. This pandemic is influencing the management of monetary policy in its role as regulator of aggregate demand and guarantor of macroeconomic stability. We use a Bayesian VAR framework (BVAR) to provide an analysis of the COVID uncertainty shock on the economy and the monetary policy response. The analysis shows important conclusions. The uncertainty effect of COVID-19 hits unprecedented aggregate demand and the economy. In addition, it undermines the action of monetary policy to soften this fall in aggregate demand and curb inflation impacted by the exchange rate effect. We suggest a development of unconventional devices for a gradual recovery of the economy. Jels code: C32, E32, E51, E52, E58</p>
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COVID-19 uncertainty and monetary policy

COVID-19 uncertainty and monetary policy

Source :

English descriptors

Abstract

Links to Exploration step

Le document en format XML

Pour manipuler ce document sous Unix (Dilib)

Pour mettre un lien sur cette page dans le réseau Wicri