The objective of this study was to estimate a monetary policy reaction function (MRF) for Kenya. It sought to understand whether the Central Bank of Kenya (CBK) in its reaction to macroeconomic changes and/or disturbances, ...

With the liberalization of exchange rate in most countries, policy makers have to contend with erratic movements in exchange rates in the short-run, causing exchange rate misalignments in the long run. Exchange rate ...

Policy makers and development experts in many countries have had to deal with a decision on exactly what sources of economic growth they must target to achieve higher growth rates. Most development practitioners and ...