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Monetary transmission mechanism analysis in a small, open economy: the case of Vietnam

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  • Mai, Nhat Chi

Abstract

The transmission mechanism of monetary policy describes the dynamic stages in which a central bank’s monetary policies are transmitted to real output and prices. It plays a crucial, perhaps even central, role in the study of monetary economics. However, few studies have focussed on developing small, open economies, and even fewer have covered characteristics such as the aggregate demand components, the low independence of monetary policy, the weak developing financial markets and structural changes in the economy. Few quantitative empirical studies have been conducted on the monetary transmission mechanism in Vietnam, and they do not include a non-recursive structural vector autoregression model with structural breaks, and characteristics of a small, open economy. This study attempts to fill such research gaps.

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  • Mai, Nhat Chi, 2014. "Monetary transmission mechanism analysis in a small, open economy: the case of Vietnam," OSF Preprints ybc8p, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:ybc8p
    DOI: 10.31219/osf.io/ybc8p
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