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External Shocks and Monetary Policy Effectiveness: A Review of Extant Methodologies
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External Shocks and Monetary Policy Effectiveness: A Review of Extant Methodologies
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Journal Article
External Shocks and Monetary Policy Effectiveness: A Review of Extant Methodologies
2026
Overview
This study reviews the extant methodologies in research focusing on the nexus between external shocks and monetary policy effectiveness. It is premised on the argument that the adopted methodology to examine the empirical validity and plausibility of estimated models is fundamental in monetary policy effectiveness in the light of external shocks. Hence, the choice of the methodological approach translates the effectiveness of corresponding monetary policy rules and institutions. It is established in the review that the extant literature converges on a set of methodological underpinnings that are relevant in assessing the effects of external shocks on monetary policy effectiveness. Such convergence is documented in this study by assessing country-specific and panel-oriented studies focusing on non-WAEMU (West African Economic and Monetary Union) countries, especially in terms of information criteria motivating the choice of extant methodologies. KCI Citation Count: 0
Publisher
경제연구소
Subject
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