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The Determinants of Inflation in Vietnam: VAR and SVAR Approaches

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  • Tuan Anh Phan

    (Crawford School of Public Policy, The Australian National University)

Abstract

This paper employs Vector Autoregressive (VAR) and Structural VAR (SVAR) models to analyse VietnamÕs inflation determinants using quarterly data from 1996 to 2012. The results suggest that: (i) the inflation responses to monetary policy shocks are plausible and similar to standard monetary transmission in advanced economies; (ii) the policy interest rate plays an important role to inflation variation, which differs with what have been found in previous studies for Vietnam; and (iii) shocks to output and prices in trading partners have strong effects on inflation in Vietnam, while international oil and rice prices seem not to systematically affect VietnamÕs inflation. Moreover, the State Bank of Vietnam does use monetary policy tools to ease down the inflationary pressure caused by foreign factors.

Suggested Citation

  • Tuan Anh Phan, 2014. "The Determinants of Inflation in Vietnam: VAR and SVAR Approaches," Crawford School Research Papers 1404, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:crwfrp:1404
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    File URL: http://ssrn.com/abstract=2437712
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    Cited by:

    1. Mai, Nhat Chi, 2016. "Monetary policies and the macroeconomic performance of Vietnam," OSF Preprints akzy4, Center for Open Science.

    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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