Izvorni znanstveni članak
The Design of Monetary Policy in a Small Transitional Economy: The Case of Tajikistan
Yusuf Tashrifov
; National Bank of Tajikistan, Dushanbe, Tajikistan
Sažetak
Using the Structural Vector Autoregression (SVAR) method this paper surveys the effect of monetary and exchange rate policies on Tajikistan’s economy for the period 1996 to 2004. 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.
Ključne riječi
monetary and exchange rate policies; inflation; output and structural vector autoregression (SVAR)
Hrčak ID:
78601
URI
Datum izdavanja:
1.5.2008.
Posjeta: 1.503 *