Monetary Policy And Inflation Dynamics In Asean Economies
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| Author | : Geraldine Dany-Knedlik |
| Publisher | : International Monetary Fund |
| Total Pages | : 37 |
| Release | : 2018-06-21 |
| Genre | : Business & Economics |
| ISBN | : 1484363043 |
Download Monetary Policy and Inflation Dynamics in ASEAN Economies Book in PDF, Epub and Kindle
This paper investigates the evolution of inflation dynamics in the five largest ASEAN countries between 1997 and 2017. To account for changes in the monetary policy frameworks since the Asian Financial Crisis (AFC), the analysis is based on country-specific Phillips curves allowing for time-varying parameters. The paper finds evidence of a higher degree of forward-looking dynamics and a better anchoring of inflation expectations, consistent with the improvements in monetary policy frameworks in the region. In contrast, the quantitative impact of cyclical fluctuations and import prices has gradually diminished over time.
| Author | : Ms.Rina Bhattacharya |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2013-07-03 |
| Genre | : Business & Economics |
| ISBN | : 1475554737 |
Download Inflation Dynamics and Monetary Policy Transmission in Vietnam and Emerging Asia Book in PDF, Epub and Kindle
This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and uses empirical analysis to answer two key questions: (i) what are the key drivers of inflation in Vietnam, and what role does monetary policy play? and (ii) why has inflation in Vietnam been persistently higher than in most other emerging market economies in the region? It focuses on understanding the monetary policy transmission mechanism in Vietnam, and in understanding the extent to which monetary policy can explain why inflation in Vietnam has been higher than in other Asian emerging markets over the past decade.
| Author | : Geraldine Dany-Knedlik |
| Publisher | : International Monetary Fund |
| Total Pages | : 37 |
| Release | : 2018-06-22 |
| Genre | : Business & Economics |
| ISBN | : 1484364406 |
Download Monetary Policy and Inflation Dynamics in ASEAN Economies Book in PDF, Epub and Kindle
This paper investigates the evolution of inflation dynamics in the five largest ASEAN countries between 1997 and 2017. To account for changes in the monetary policy frameworks since the Asian Financial Crisis (AFC), the analysis is based on country-specific Phillips curves allowing for time-varying parameters. The paper finds evidence of a higher degree of forward-looking dynamics and a better anchoring of inflation expectations, consistent with the improvements in monetary policy frameworks in the region. In contrast, the quantitative impact of cyclical fluctuations and import prices has gradually diminished over time.
| Author | : Ms.Carolina Osorio |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2011-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1463923961 |
Download Inflation Dynamics in Asia Book in PDF, Epub and Kindle
The perception that Asia's inflation dynamics is driven by idiosyncratic supply shocks implies, as a corollary, that there is little scope for a policy reaction to a build-up of inflationary pressures. However, Asia's fast growth and integration over the last two decades suggest that the drivers of inflation may have changed, and that domestic demand pressures may now play a larger role than in the past. This paper presents a quantitative analysis of inflation dynamics in Asia using a Global VAR (GVAR) model, which explicitly incorporates the role of regional and global spillovers in driving Asia's inflation. Our results suggest that over the past two decades the main drivers of inflation in Asia have been monetary and supply shocks, but also that, in recent years, the contribution of these shocks has fallen, whereas demand-side pressures have started to emerge as an important contributor to inflation in Asia.
| Author | : Frank Rövekamp |
| Publisher | : Springer Nature |
| Total Pages | : 180 |
| Release | : 2023-05-13 |
| Genre | : Business & Economics |
| ISBN | : 3031279492 |
Download Inflation and Deflation in East Asia Book in PDF, Epub and Kindle
In light of the deflationary trends following the 2008/2009 financial crisis, as well as the return of inflation triggered by the COVID-19 pandemic and the war in Ukraine, this book offers insights into price stability issues in various East Asian countries. Leading scholars from the fields of economics and law as well as central bank practitioners present case studies on Japan, Korea, Singapore, and Taiwan. The contributors address topics such as quantitative monetary easing, the role of global and domestic shocks on inflation dynamics, and other monetary policy issues. In doing so, the book goes into detail about the individual forces and effects of deflation and inflation and compares the Asian experience with that of the Eurozone.
| Author | : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico |
| Publisher | : |
| Total Pages | : 193 |
| Release | : 2014 |
| Genre | : Asia |
| ISBN | : 9789291979868 |
Download Globalisation, Inflation and Monetary Policy in Asia and the Pacific Book in PDF, Epub and Kindle
The research papers presented at the conference covered the dynamics of inflation forecasts in the region; the measurement of economic slack; supply chains and inflation spillovers; financial globalisation and the role of exchange rate in monetary policy; global commodity price cycles and their monetary policy implications; and the role of inflation in China's monetary policy rule. This volume is a collection of the speeches, presentations and a background paper from the conference."--Abstract.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2017-05-31 |
| Genre | : Business & Economics |
| ISBN | : 1484301846 |
Download Thailand Book in PDF, Epub and Kindle
This Selected Issues paper analyzes factors that could bring inflation back to target in Thailand. The paper estimates a hybrid New Keynesian Phillips curve with time varying parameters to gauge the quantitative role of (long-term) inflation trends, economic slack, and import price inflation in shaping inflation dynamics. The analysis reveals some important changes in Thailand’s inflation dynamics. It suggests that the impact of lower import prices was a major factor behind the decline in headline inflation in 2015, with low oil prices the largest contributor to inflation dynamics. Monetary policy easing, within a broader expansionary policy mix, should help bring inflation back to target.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 58 |
| Release | : 2016-06-30 |
| Genre | : Business & Economics |
| ISBN | : 1498308740 |
Download Asean-5 Cluster Report Book in PDF, Epub and Kindle
This paper examines the evolution of monetary policy frameworks of the Association of Southeast Asian Nations (ASEAN)-5 economies, with particular focus on changes since the Asian financial crisis and the more recent period of unconventional monetary policies in advanced economies. Monetary policy frameworks of the ASEAN-5 economies have on the whole performed well since the crisis, delivering both price and financial stability during a period of significant domestic and regional transformation and global macroeconomic and financial turmoil. Not surprisingly, therefore, successful outcomes in most cases entailed significant changes to operating frameworks and refinement of policy objectives.
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| Release | : 1800 |
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Download Lijst van de leenen in de provintie van Friesland Book in PDF, Epub and Kindle
| Author | : Vu Chau |
| Publisher | : International Monetary Fund |
| Total Pages | : 57 |
| Release | : 2024-03-22 |
| Genre | : Business & Economics |
| ISBN | : |
Download Global Value Chain and Inflation Dynamics Book in PDF, Epub and Kindle
We study the inflationary impacts of pandemic lockdown shocks and fiscal and monetary stimulus during 2020-2022 using a novel harmonized dataset of sectoral producer price inflation and input-output linkages for more than 1000 sectors in 53 countries. The inflationary impact of shocks is identified via a Bartik shift-share design, where shares reflect the heterogeneous sectoral exposure to shocks and are derived from a macroeconomic model of international production network. We find that pandemic lockdowns, and subsequent reopening policies, were the most dominant driver of global inflation in this period, especially through their impact on aggregate demand. We provide a decomposition of lockdown shock by sources, and find that between 20-30 percent of the demand effect of lockdown/reopening is due to spillover from abroad. Finally, while fiscal and monetary policies played an important role in preventing deflation in 2020, their effects diminished in the recovery years.
