Inflationary Implication of Gold Price in Vietnam
AbstractThe sustained elevated gold price domestically, hovering persistently above the global market price, underscores the peculiar nature of the gold market in Vietnam and the resiliently strong demand for gold in the local market. In particular, the movements in the price of gold seem to lead a symmetrical trend in the headline inflation since the outbreak of the 2007 global financial crisis. The primary objective of this study is therefore to assess possible inflationary consequence of the gold price movements in Vietnam. Past studies demonstrate that if gold could be viewed as a financial asset, shifts in the gold price should be monitored as one of the determining factors of inflation. Yet, hardly any study has assessed potential inflationary implication of gold in Vietnam, especially during the recent years of volatile and double-digit inflation rates.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 46157.
Date of creation: 12 Apr 2013
Date of revision:
Gold Price; Vietnam; Money Demand; and Inflation;
Other versions of this item:
- C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-20 (All new papers)
- NEP-MON-2013-04-20 (Monetary Economics)
- NEP-SEA-2013-04-20 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Quan Hoang Vuong, 2004. "Analyses on Gold and US Dollar in Vietnam's Transitional Economy," Working Papers CEB, ULB -- Universite Libre de Bruxelles 04-033.RS, ULB -- Universite Libre de Bruxelles.
- Siregar, Reza & Rajaguru, Gulasekaran, 2005.
"Sources of variations between the inflation rates of Korea, Thailand and Indonesia during the post-1997 crisis,"
Journal of Policy Modeling, Elsevier,
Elsevier, vol. 27(7), pages 867-884, October.
- Gulasekaran Rajaguru & Reza Siregar, 2002. "Sources of Variations Between The Inflation Rates of Korea, Thailand and Indonesia During The Post-1997 Crisis," Centre for International Economic Studies Working Papers, University of Adelaide, Centre for International Economic Studies 2002-29, University of Adelaide, Centre for International Economic Studies.
- Goujon, Michael, 2006. "Fighting inflation in a dollarized economy: The case of Vietnam," Journal of Comparative Economics, Elsevier, vol. 34(3), pages 564-581, September.
- Tkacz, Greg, 2004.
"Inflation changes, yield spreads, and threshold effects,"
International Review of Economics & Finance, Elsevier,
Elsevier, vol. 13(2), pages 187-199.
- Greg Tkacz, 2002. "Inflation Changes, Yield Spreads, and Threshold Effects," Working Papers, Bank of Canada 02-40, Bank of Canada.
- Tobias F. Rötheli, 1990. "Money Supply and Money Demand Determinants of Swiss Inflation," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), Swiss Society of Economics and Statistics (SSES), vol. 126(I), pages 1-15, March.
- Mahdavi, Saeid & Zhou, Su, 1997. "Gold and commodity prices as leading indicators of inflation: Tests of long-run relationship and predictive performance," Journal of Economics and Business, Elsevier, Elsevier, vol. 49(5), pages 475-489.
- Hamilton, James D., 1996. "Specification testing in Markov-switching time-series models," Journal of Econometrics, Elsevier, Elsevier, vol. 70(1), pages 127-157, January.
- Greg Tkacz, 2007. "Gold Prices and Inflation," Working Papers, Bank of Canada 07-35, Bank of Canada.
- Hamilton, James D. & Susmel, Raul, 1994.
"Autoregressive conditional heteroskedasticity and changes in regime,"
Journal of Econometrics, Elsevier,
Elsevier, vol. 64(1-2), pages 307-333.
- Tom Doan, . "RATS programs to estimate Hamilton-Susmel Markov Switching ARCH model," Statistical Software Components, Boston College Department of Economics RTZ00083, Boston College Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.