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Author : Piti Disyatat
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (793 download)
Download or read book Monetary Policy and the Transmission Mechanism in Thailand written by Piti Disyatat and published by . This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Heiko Hesse
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)
Download or read book Monetary Policy, Structural Break, and the Monetary Transmission Mechanism in Thailand written by Heiko Hesse and published by . This book was released on 2007 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Ubonrat Klinhowhan
Publisher :
ISBN 13 :
Total Pages : 342 pages
Book Rating : 4.:/5 (318 download)
Download or read book Monetary Transmission Mechanism in Thailand written by Ubonrat Klinhowhan and published by . This book was released on 1999 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: The credit of monetary policy transmission mechanism is more relevant than the interest rate channels both before and after financial liberalization.
Author : Kamolrat Wattanawongkeeree
Publisher :
ISBN 13 :
Total Pages : 170 pages
Book Rating : 4.:/5 (564 download)
Download or read book Monetary Transmission Mechanism in Thailand written by Kamolrat Wattanawongkeeree and published by . This book was released on 2003 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kevalin Wangpichayasuk
Publisher :
ISBN 13 :
Total Pages : 206 pages
Book Rating : 4.:/5 (318 download)
Download or read book Asymmetric Effects of Monetary Policy Shocks written by Kevalin Wangpichayasuk and published by . This book was released on 2001 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Clive William John Granger
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (53 download)
Download or read book The Role of Money in the Transmission Mechanism of Monetary Policy written by Clive William John Granger and published by . This book was released on 2003 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Harun Alp
Publisher : International Monetary Fund
ISBN 13 : 1475542852
Total Pages : 48 pages
Book Rating : 4.4/5 (755 download)
Download or read book Shock Therapy! What Role for Thai Monetary Policy? written by Mr.Harun Alp and published by International Monetary Fund. This book was released on 2012-11-08 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thailand had to endure three major shocks during 2008–2011: the global financial crisis, the Japanese earthquake, and the Thai floods of 2011. Over this period, consistent with its inflation targeting framework, the Bank of Thailand (BOT) let the exchange rate depreciate and cut interest rates (to, for example, a historically low level of 11⁄4 percent by mid-2009). This paper seeks to uncover the role of monetary policy in softening the impact of these shocks. Specifically, it seeks to address the following question: if an inflation targeting framework underpinned by a flexible exchange rate regime had not been in place, how would the economic contractions associated with these shocks have differed? Counterfactual simulations based on an estimated structural model indicate that countercyclical monetary policy and exchange rate flexibility added up to a total of 4 percentage points to real GDP growth during periods when Thailand had to weather these three major shocks.
Author : Pojanart Sunirand
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (249 download)
Download or read book The Role of Money in the Transmission Mechanism of Monetary Policy written by Pojanart Sunirand and published by . This book was released on 2003 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Luis Brandao-Marques
Publisher : International Monetary Fund
ISBN 13 : 1513529730
Total Pages : 54 pages
Book Rating : 4.5/5 (135 download)
Download or read book Monetary Policy Transmission in Emerging Markets and Developing Economies written by Mr.Luis Brandao-Marques and published by International Monetary Fund. This book was released on 2020-02-21 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
Author : Saranya Raksong
Publisher :
ISBN 13 :
Total Pages : 514 pages
Book Rating : 4.:/5 (631 download)
Download or read book The Stability of Money Demand and Monetary Transmission Mechanism in Thailand written by Saranya Raksong and published by . This book was released on 2010 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis also used the Vector Autoregression model (VAR) to test the monetary transmission mechanism in Thailand in three different channels of monetary policy: the interest rate channel, the credit channel, and the exchange rate channel. The results find that a change in the M1 money demand has more effect on economic growth while a change in M2 has a stronger effect on the price level. In addition, the results also show that the M1 money demand is responsive to the transmission mechanism in all channels tested in the thesis.
Author : Ruja Adisornkanj
Publisher :
ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.:/5 (663 download)
Download or read book Monetary Policy Transmission Mechanisms and Asset Prices Bubbles in Thailand written by Ruja Adisornkanj and published by . This book was released on 2009 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pravena Piyavongpinyo
Publisher :
ISBN 13 : 9789743274619
Total Pages : 284 pages
Book Rating : 4.2/5 (746 download)
Download or read book Credit Channel and Monetary Transmission in Thailand written by Pravena Piyavongpinyo and published by . This book was released on 2002 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Heiko Hesse
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (626 download)
Download or read book The Monetary Transmission Mechanism in Thailand written by Heiko Hesse and published by . This book was released on 2005 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Noraratana Saisanan Na Ayudhya
Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.:/5 (753 download)
Download or read book Credit Availability and Credit Rationing in the Monetary Policy Transmission Mechanism of Thailand written by Noraratana Saisanan Na Ayudhya and published by . This book was released on 1991 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Renato E. Reside
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 (91 download)
Download or read book International Transmission of US Monetary Policy Shocks to Asia written by Renato E. Reside and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Stock Market's Reaction to Monetary Policy and Macroeconomic Cyclical Variation written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The monetary policy can affect the economy through the monetary transmission mechanism. Two channels that the monetary policy can affect the economy via stock prices are through a credit channel in which the change in short term policy rate will affect the companies' cost of borrowings as well as abilities to access source of funds and a further result in companies' return and through an asset price channel in which the change in policy rate can affect demand for stocks and further the stock return. This study analyzes the impact of unanticipated changes in monetary policy in Thailand on the monthly SET index return and firm individual stock return during business cycles. I find that response of monthly SET index return to monetary surprise is not statistically significant; in contrast the reaction of most individual firms' returns give significant result. These findings prove that there are some firms that react strongly negative to monetary surprise. Reactions of these firms lead to significant response in firm-level data. I also find evidence supporting a credit channel of monetary policy transmission for overall stock price but I do not find significant cyclical variation in the impact of monetary policy on individual firm's returns. Notwithstanding, the behavior of countercyclical demand for credit can help to explain the result. However, both SET index returns and unexpected changes in policy rate have a negative relationship as stated in the asset price channel of monetary policy transmission. Moreover, I find a strong negative response of stock return of firms which are classified to be financially constrained firms but a little evidence which show that stock returns of those firms are more affected to monetary shocks compare to firms with non-financially constrained firms.
Author : Paisan Ruphanitkit
Publisher :
ISBN 13 :
Total Pages : 426 pages
Book Rating : 4.:/5 (223 download)
Download or read book The Bank Lending Channel of Monetary Policy Transmission written by Paisan Ruphanitkit and published by . This book was released on 1998 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt:
