Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand:
The paper studies monetary policy and the monetary transmission mechanism in Thailand in light of the Asian crisis in 1997. Existing studies that adopt structural vector auto-regression (VAR) approaches do not give a clear and agreed-upon view how monetary shocks are transmitted to the Thai economy...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
The World Bank
2007
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | The paper studies monetary policy and the monetary transmission mechanism in Thailand in light of the Asian crisis in 1997. Existing studies that adopt structural vector auto-regression (VAR) approaches do not give a clear and agreed-upon view how monetary shocks are transmitted to the Thai economy that is subject to structural breaks. This study explicitly models a pre-crisis and post-crisis cointegrated VAR model. This analysis supports arguments that the trinity of open capital markets, pegged exchange rate regime, and monetary policy autonomy is inconsistent in the pre-crisis period. In contrast, the model points to an effective monetary policy in the post-crisis period. Further, the author analyzes the common driving trends of the model |
| Physical Description: | 1 Online-Ressource (24 Seiten) |
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| 520 | 1 | |a The paper studies monetary policy and the monetary transmission mechanism in Thailand in light of the Asian crisis in 1997. Existing studies that adopt structural vector auto-regression (VAR) approaches do not give a clear and agreed-upon view how monetary shocks are transmitted to the Thai economy that is subject to structural breaks. This study explicitly models a pre-crisis and post-crisis cointegrated VAR model. This analysis supports arguments that the trinity of open capital markets, pegged exchange rate regime, and monetary policy autonomy is inconsistent in the pre-crisis period. In contrast, the model points to an effective monetary policy in the post-crisis period. Further, the author analyzes the common driving trends of the model | |
| 534 | |c 2007 | ||
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| 653 | |a Interest rates | ||
| 653 | |a Macroeconomics and Economic Growth | ||
| 653 | |a Monetary expansion | ||
| 653 | |a Monetary policy | ||
| 653 | |a Monetary shocks | ||
| 653 | |a Money supply | ||
| 653 | |a Private Sector Development | ||
| 653 | |a Transmission mechanism | ||
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| 776 | 0 | 8 | |i Reproduktion von |a Hesse, Heiko |t Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand |d 2007 |
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| illustrated | Not Illustrated |
| indexdate | 2025-02-20T07:10:29Z |
| institution | BVB |
| language | English |
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| physical | 1 Online-Ressource (24 Seiten) |
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| publishDate | 2007 |
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| publisher | The World Bank |
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| spellingShingle | Hesse, Heiko Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand |
| title | Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand |
| title_auth | Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand |
| title_exact_search | Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand |
| title_full | Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand Hesse, Heiko |
| title_fullStr | Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand Hesse, Heiko |
| title_full_unstemmed | Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand Hesse, Heiko |
| title_short | Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand |
| title_sort | monetary policy structural break and the monetary transmission mechanism in thailand |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4248 |
| work_keys_str_mv | AT hesseheiko monetarypolicystructuralbreakandthemonetarytransmissionmechanisminthailand |