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The Bank of Thailand Structural Model for Policy Analysis

Author

Listed:
  • Surach Tanboon

    (Bank of Thailand)

Abstract

This paper presents the Bank of Thailand’s new model based on the dynamic stochastic general equilibrium (DSGE) paradigm. The paper details the model structure of a small open economy, model parameterization, and model properties. The purpose of this DSGE model is to provide a coherent economic interpretation of the workings of the Thai economy consistent with microeconomic foundation.

Suggested Citation

  • Surach Tanboon, 2008. "The Bank of Thailand Structural Model for Policy Analysis," Working Papers 2008-06, Monetary Policy Group, Bank of Thailand.
    • Handle: RePEc:bth:wpaper:2008-06
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    File URL: http://www.bot.or.th/Thai/EconomicConditions/Publication/Documents/dp122008th_surach.pdf
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    References listed on IDEAS

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    Cited by:

    1. Oktaviani, Rina & Asmarantaka, Ratna W., 2010. "The Rise in International Food Prices: The Impact on and Policy Implications for Indonesian Food Security," Conference papers 331963, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Pongsak Luangaram & Nipit Wongpunya, 2022. "Exploring the Role of Exchange Rate in Inflation Targeting: Evidence from Thailand," PIER Discussion Papers 179, Puey Ungphakorn Institute for Economic Research.
    3. Aerwadee Premashthira & Kenneth S. Lyon, 2012. "A Dynamic General Equilibrium Model of Food and Energy Crop," Applied Economics Journal, Kasetsart University, Faculty of Economics, Center for Applied Economic Research, vol. 19(2), pages 18-36, December.
    4. Sitthiyot, Thitithep, 2015. "Macroeconomic and Financial Management in an Uncertain World: What Can We Learn from Complexity Science?," MPRA Paper 73753, University Library of Munich, Germany, revised 11 Dec 2015.
    5. Surach Tanboon & Suchot Piamchol & Tanawat Ruenbanterng & Paiboon Pongpaichet, 2009. "Impacts of Financial Factors on Thailand's Business Cycle Fluctuations," Working Papers 2009-01, Monetary Policy Group, Bank of Thailand.
    6. Wianwiwat, S. & Asafu-Adjaye, J., 2011. "Modelling the promotion of biomass use: A case study of Thailand," Energy, Elsevier, vol. 36(3), pages 1735-1748.
    7. Acharya, Satish & Piantanakulchai, Mongkut, 2025. "The implications of production efficiency improvement and subsidy removal strategies during the transition to higher blends of biodiesel in Thailand’s transport sector," Energy, Elsevier, vol. 332(C).
    8. สิทธิยศ, ฐิติเทพ & ธัญลักษณ์ภาคย์, เกษรา, 2014. "การทดสอบข้อสมมติของทฤษฎีเศรษฐศาสตร์เกี่ยวกับความมีเหตุผลของมนุษย์: หลักฐานเชิงประจักษ์จากการทดลองในระบบปิด [Testing Rationality Assumptions in Economic Theory: Evidence from Closed Experiment]," MPRA Paper 74878, University Library of Munich, Germany, revised 05 Jan 2015.
    9. Hsu, Minchung & Huang, Xianguo & Yupho, Somrasri, 2015. "The development of universal health insurance coverage in Thailand: Challenges of population aging and informal economy," Social Science & Medicine, Elsevier, vol. 145(C), pages 227-236.
    10. Siok Kun, Sek, 2009. "The impacts of economic structures on the performance of simple policy rules in a small open economy," MPRA Paper 25065, University Library of Munich, Germany.
    11. Atchana Waiquamdee & Pranee Sutthasri & Tientip Subhanij & Surach Tanboon, 2009. "Monetary Policy and Underlying Inflation Pressures: The Essence of Monetary Policy Design," Working Papers 2009-11, Monetary Policy Group, Bank of Thailand.
    12. Luangaram, Pongsak & Wongpunya, Nipit, 2024. "The effect of trade openness and exchange rate on inflation targeting in Thailand," Journal of Asian Economics, Elsevier, vol. 92(C).
    13. Francesco Sergi, 2020. "The Standard Narrative about DSGE Models in Central Banks’ Technical Reports," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 27(2), pages 163-193, March.
    14. Wianwiwat, Suthin & Asafu-Adjaye, John, 2013. "Is there a role for biofuels in promoting energy self sufficiency and security? A CGE analysis of biofuel policy in Thailand," Energy Policy, Elsevier, vol. 55(C), pages 543-555.
    15. Taiyo Yoshimi, 2014. "Lending Rate Spread Shock and Monetary Policy Arrangements: A Small Open Economy Model for ASEAN Countries," Asian Economic Journal, East Asian Economic Association, vol. 28(1), pages 19-39, March.

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