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...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2007
|
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | 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 |
| Beschreibung: | 1 Online-Ressource (24 Seiten)) |
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| 520 | 3 | |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 | |
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Datensatz im Suchindex
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| index_date | 2024-07-03T22:27:46Z |
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| language | English |
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| spelling | Hesse, Heiko Verfasser aut Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand Hesse, Heiko Washington, D.C The World Bank 2007 1 Online-Ressource (24 Seiten)) txt rdacontent c rdamedia cr rdacarrier 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 Online-Ausg Central bank Currencies and Exchange Rates Debt Markets Economic Stabilization Economic Theory and Research Emerging Markets Exchange rate Finance and Financial Sector Development Foreign interest rate Interest rates Macroeconomics and Economic Growth Monetary expansion Monetary policy Monetary shocks Money supply Private Sector Development Transmission mechanism Transmission mechanisms Hesse, Heiko Sonstige oth Hesse, Heiko Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4248 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Hesse, Heiko Monetary Policy, Structural Break, And The Monetary Transmission Mechanism In Thailand Central bank Currencies and Exchange Rates Debt Markets Economic Stabilization Economic Theory and Research Emerging Markets Exchange rate Finance and Financial Sector Development Foreign interest rate Interest rates Macroeconomics and Economic Growth Monetary expansion Monetary policy Monetary shocks Money supply Private Sector Development Transmission mechanism Transmission mechanisms |
| 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_exact_search_txtP | 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 |
| topic | Central bank Currencies and Exchange Rates Debt Markets Economic Stabilization Economic Theory and Research Emerging Markets Exchange rate Finance and Financial Sector Development Foreign interest rate Interest rates Macroeconomics and Economic Growth Monetary expansion Monetary policy Monetary shocks Money supply Private Sector Development Transmission mechanism Transmission mechanisms |
| topic_facet | Central bank Currencies and Exchange Rates Debt Markets Economic Stabilization Economic Theory and Research Emerging Markets Exchange rate Finance and Financial Sector Development Foreign interest rate Interest rates Macroeconomics and Economic Growth Monetary expansion Monetary policy Monetary shocks Money supply Private Sector Development Transmission mechanism Transmission mechanisms |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4248 |
| work_keys_str_mv | AT hesseheiko monetarypolicystructuralbreakandthemonetarytransmissionmechanisminthailand |