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Monetary Policy Model of Tajikstan: A Structural Vector Autoregression Approach

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  • M.Yusuf Tashrifov

Abstract

Using the Structural Vector Autoregression (SVAR) method this paper analyses the effects of monetary policy on Tajikistan’s economy for the period 1996 to 2003. A number of restrictions are imposed and the contemporaneous and long-run restrictions model are used to identify the dynamic response of inflation and output to the monetary and exchange rate innovations. As a result these shocks are used to generate the structural impulse response and forecast error variance decomposition functions for assessing the dynamic impacts of monetary and exchange rate policies on country’s real sector variables.

Suggested Citation

  • M.Yusuf Tashrifov, 2005. "Monetary Policy Model of Tajikstan: A Structural Vector Autoregression Approach," International and Development Economics Working Papers idec05-9, International and Development Economics.
    • Handle: RePEc:idc:wpaper:idec05-9
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    File URL: https://crawford.anu.edu.au/degrees/idec/working_papers/IDEC05-9.pdf
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    References listed on IDEAS

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    Cited by:

    1. Nigina QURBANALIEVA, 2013. "An Empirical Study Of Factors Affecting Inflation In Republic Of Tajikistan," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 4(2), pages 231-249.
    2. Alege, Philip O. & Okodua, Henry, 2014. "International Competitiveness and Growth of the Nigerian Economy: A Structural VAR-Based Perspective," Research in Applied Economics, Macrothink Institute, vol. 6(4), pages 53-74, December.

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    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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