| Trường DC | Giá trị | Ngôn ngữ |
|---|---|---|
| dc.contributor.author | Nguyen, Thi Thuy Vinh | |
| dc.date.accessioned | 2023-11-01T10:24:38Z | - |
| dc.date.available | 2023-11-01T10:24:38Z | - |
| dc.date.issued | 2015 | |
| dc.identifier.isbn | 1859-0020 | |
| dc.identifier.uri | https://dlib.neu.edu.vn/handle/NEU/58721 | - |
| dc.description | economic management and policy | |
| dc.description.abstract | The paper investigates the mechanism of monetary transmission in Vietnam through diffrent channels - namely the interest rate channel, the exchange rate channel, the asset channel and the credit channel for the period January 1995 - October 2009. This study applies VAR analysis to evaluate the monetary transmission mechanisms to output and price level. To compare the relative importance of diffrent channels for transmitting monetary policy, the paper estimates the impulse response functions and variance decompositions of variables. The empirical results show that the changes in money supply have a signifiant impact on output rather than price in the short run. The impacts of money supply on price and output are stronger through the exchange rate and credit channels, but however, are weaker through the interest rate channel. The impacts of monetary policy on output and infltion may be erroneous through the equity price channel because of the lack of an established and well-functioning stock market. | |
| dc.description.tableofcontents | 1. Introduction; 2. Literature review on the monetary transmission mechanism; 3. Instruments of monetary policy in Vietnam; 4. Methodology and data; 5. Results and discussion; 6. Conclusion | |
| dc.format.extent | Khổ 21 x 29.7 | |
| dc.language.iso | en | |
| dc.publisher | Kinh Tế Quốc Dân | |
| dc.subject | Monetary transmission channel | |
| dc.subject | output | |
| dc.subject | price | |
| dc.subject | VAR | |
| dc.subject | Vietnam. | |
| dc.title | The Role of Diffrent Channels in Transmitting Monetary Policy into Output and Price in Vietnam | |
| dc.type | Journal of Economics and Development | |
| dc.identifier.barcode | Article 2_JED_Vol 17_Number 1 | |
| dc.relation.reference | Aleem, Abdul. (2010), ‘Transmission Mechanism of Monetary Policy in India’, Journal of Asian Economics, Vol. 21, No.2, pp. 186–197. Asel, Isakova. (2008), ‘Monetary Policy Effiency in the Economies of Central Asia’, Czech Journal of Economics and Finance, Vol. 58, No.11-12, pp. 525-553. Bernanke, B., and Gertler, M (1995), ‘Inside the Black Box: The Credit Channel of Monetary Policy Transmission’, The Journal of Economic Perspectives, Vol. 9, No.4, pp. 27–48. Chow, Hwee Kwan. (2004), ‘A Var Analysis of Singapore’s Monetary Transmission Mechanism’, Research Collection School of Economics, Paper 792, Available at: http://ink.library.smu.edu.sg/soe_research/792. Dabla-Norris, Era, and Holger Floerkemeier (2006), ‘Transmission Mechanisms of Monetary Policy in Armenia: Evidence from VAR Analysis’, IMF Working Paper 06/248. Égert, Balázs, and Ronald MacDonald. (2006), ‘Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable’, CESIfo Working Paper No. 1739. Ender, W. (1995), Applied Econometrics Time Series. John Wiley and Sons Inc, New York. European Central Bank (2002), ‘Recent Findings on Monetary Policy Transmission in the Euro Area’, Monthly Bulletin, October. Favero, C.A. (2001), Applied Macroeconometrics, Oxford: University Press. Ganev, Georgy, Krisztina Molnar, Krzysztof Rybinski, and Przemyslav Wozniak. (2002), ‘Transmission Mechanism of Monetary Policy in Central and Eastern Europe’, CASE Report Case No. 52. Héricourt, J. (2005), ‘Monetary Policy Transmission in the CEECs: Revisited Results Using Alternative Econometrics’, (Unpublished; Prais: University of Paris), Available at: ftp://mse.univ-paris1.fr/pub/ mse/cahiers2005/Bla05020.pdf. Johansen, S. (1991), ‘Estimation and Hypothesis Testing of Cointegration Vector in Gaussian Vector Autoregressive Models’, Econometrica, Vol. 59, No.6, pp. 1551-1580. Kamin, S. B., P. Turner, and J. Van ’t dack. (1998), ‘The Transmission of Monetary Policy in Emerging Market Economies: An Overview’, BIS Policy Papers, No. 3, Bank for International Settlements. Le, H. V., and W. D. Pfau. (2009), ‘VAR Analysis of the Monetary Transmission Mechanism in Vietnam’, Applied Econometrics and International Development, Vol. 9, No. 1, pp. 165-179. Lutkepohl, H. (1991), Introduction to Multiple Time Series Analysis, NewYork: Springer Verlag. Mishkin, F. (1995), ‘Symposium on the Monetary Transmission Mechanism’, The Journal of Economic Perspectives, Vol.9, No. 4, pp. 3-10. Mishkin, F. (1996), ‘The Channels of Monetary Transmission: Lessons for Monetary Policy’, NBER Working Paper, No. 5464, Available at: http://journal.fsv.cuni.cz/storage/1147_str_525_553_-_isakova.pdf Mohanty, M.S., and P. Turner. (2008), ‘Monetary Policy Transmission in Emerging Market Economies: What is New’, BIS Paper, No. 35, pp. 1-59. Sarno, L., and M. P. Taylor. (2001), ‘Offial Intervention in the Foreign Exchange Market: Is It Effctive, and, If So, How Does it Work?’, CEPR Discussion Paper, No. 2690. SBV [State Bank of Vietnam] (2008), Annual Report, Hanoi: State Bank of Vietnam. Starr, M. (2005), ‘Does Money Matter in the CIS? Effcts of Monetary Policy on Output and Prices’, Journal of Comparative Economics, Vol. 33, No.3, pp. 441–461. Taylor, John B. (1995), ‘The Monetary Transmission Mechanism: An Empirical Framework’, Journal of Economic Perspective, Vol. 9, No. 4, pp. 11-26. Tsangarides, Charalambos. (2010), ‘Monetary Policy Transmission in Mauritius Using a VAR Analysis’, IMF Working Paper WP/10/36. | |
Bộ sưu tập | 02. Tạp chí (Tiếng Anh) | |
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| Trường DC | Giá trị | Ngôn ngữ |
|---|---|---|
| dc.contributor.author | Nguyen, Thi Thuy Vinh | |
| dc.date.accessioned | 2023-11-01T10:24:38Z | - |
| dc.date.available | 2023-11-01T10:24:38Z | - |
| dc.date.issued | 2015 | |
| dc.identifier.isbn | 1859-0020 | |
| dc.identifier.uri | https://dlib.neu.edu.vn/handle/NEU/58721 | - |
| dc.description | economic management and policy | |
| dc.description.abstract | The paper investigates the mechanism of monetary transmission in Vietnam through diffrent channels - namely the interest rate channel, the exchange rate channel, the asset channel and the credit channel for the period January 1995 - October 2009. This study applies VAR analysis to evaluate the monetary transmission mechanisms to output and price level. To compare the relative importance of diffrent channels for transmitting monetary policy, the paper estimates the impulse response functions and variance decompositions of variables. The empirical results show that the changes in money supply have a signifiant impact on output rather than price in the short run. The impacts of money supply on price and output are stronger through the exchange rate and credit channels, but however, are weaker through the interest rate channel. The impacts of monetary policy on output and infltion may be erroneous through the equity price channel because of the lack of an established and well-functioning stock market. | |
| dc.description.tableofcontents | 1. Introduction; 2. Literature review on the monetary transmission mechanism; 3. Instruments of monetary policy in Vietnam; 4. Methodology and data; 5. Results and discussion; 6. Conclusion | |
| dc.format.extent | Khổ 21 x 29.7 | |
| dc.language.iso | en | |
| dc.publisher | Kinh Tế Quốc Dân | |
| dc.subject | Monetary transmission channel | |
| dc.subject | output | |
| dc.subject | price | |
| dc.subject | VAR | |
| dc.subject | Vietnam. | |
| dc.title | The Role of Diffrent Channels in Transmitting Monetary Policy into Output and Price in Vietnam | |
| dc.type | Journal of Economics and Development | |
| dc.identifier.barcode | Article 2_JED_Vol 17_Number 1 | |
| dc.relation.reference | Aleem, Abdul. (2010), ‘Transmission Mechanism of Monetary Policy in India’, Journal of Asian Economics, Vol. 21, No.2, pp. 186–197. Asel, Isakova. (2008), ‘Monetary Policy Effiency in the Economies of Central Asia’, Czech Journal of Economics and Finance, Vol. 58, No.11-12, pp. 525-553. Bernanke, B., and Gertler, M (1995), ‘Inside the Black Box: The Credit Channel of Monetary Policy Transmission’, The Journal of Economic Perspectives, Vol. 9, No.4, pp. 27–48. Chow, Hwee Kwan. (2004), ‘A Var Analysis of Singapore’s Monetary Transmission Mechanism’, Research Collection School of Economics, Paper 792, Available at: http://ink.library.smu.edu.sg/soe_research/792. Dabla-Norris, Era, and Holger Floerkemeier (2006), ‘Transmission Mechanisms of Monetary Policy in Armenia: Evidence from VAR Analysis’, IMF Working Paper 06/248. Égert, Balázs, and Ronald MacDonald. (2006), ‘Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable’, CESIfo Working Paper No. 1739. Ender, W. (1995), Applied Econometrics Time Series. John Wiley and Sons Inc, New York. European Central Bank (2002), ‘Recent Findings on Monetary Policy Transmission in the Euro Area’, Monthly Bulletin, October. Favero, C.A. (2001), Applied Macroeconometrics, Oxford: University Press. Ganev, Georgy, Krisztina Molnar, Krzysztof Rybinski, and Przemyslav Wozniak. (2002), ‘Transmission Mechanism of Monetary Policy in Central and Eastern Europe’, CASE Report Case No. 52. Héricourt, J. (2005), ‘Monetary Policy Transmission in the CEECs: Revisited Results Using Alternative Econometrics’, (Unpublished; Prais: University of Paris), Available at: ftp://mse.univ-paris1.fr/pub/ mse/cahiers2005/Bla05020.pdf. Johansen, S. (1991), ‘Estimation and Hypothesis Testing of Cointegration Vector in Gaussian Vector Autoregressive Models’, Econometrica, Vol. 59, No.6, pp. 1551-1580. Kamin, S. B., P. Turner, and J. Van ’t dack. (1998), ‘The Transmission of Monetary Policy in Emerging Market Economies: An Overview’, BIS Policy Papers, No. 3, Bank for International Settlements. Le, H. V., and W. D. Pfau. (2009), ‘VAR Analysis of the Monetary Transmission Mechanism in Vietnam’, Applied Econometrics and International Development, Vol. 9, No. 1, pp. 165-179. Lutkepohl, H. (1991), Introduction to Multiple Time Series Analysis, NewYork: Springer Verlag. Mishkin, F. (1995), ‘Symposium on the Monetary Transmission Mechanism’, The Journal of Economic Perspectives, Vol.9, No. 4, pp. 3-10. Mishkin, F. (1996), ‘The Channels of Monetary Transmission: Lessons for Monetary Policy’, NBER Working Paper, No. 5464, Available at: http://journal.fsv.cuni.cz/storage/1147_str_525_553_-_isakova.pdf Mohanty, M.S., and P. Turner. (2008), ‘Monetary Policy Transmission in Emerging Market Economies: What is New’, BIS Paper, No. 35, pp. 1-59. Sarno, L., and M. P. Taylor. (2001), ‘Offial Intervention in the Foreign Exchange Market: Is It Effctive, and, If So, How Does it Work?’, CEPR Discussion Paper, No. 2690. SBV [State Bank of Vietnam] (2008), Annual Report, Hanoi: State Bank of Vietnam. Starr, M. (2005), ‘Does Money Matter in the CIS? Effcts of Monetary Policy on Output and Prices’, Journal of Comparative Economics, Vol. 33, No.3, pp. 441–461. Taylor, John B. (1995), ‘The Monetary Transmission Mechanism: An Empirical Framework’, Journal of Economic Perspective, Vol. 9, No. 4, pp. 11-26. Tsangarides, Charalambos. (2010), ‘Monetary Policy Transmission in Mauritius Using a VAR Analysis’, IMF Working Paper WP/10/36. | |
Bộ sưu tập | 02. Tạp chí (Tiếng Anh) | |
