Synergies Between Monetary and Macroprudential Policies in Thailand

Synergies Between Monetary and Macroprudential Policies in Thailand
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Volume/Issue: Volume 2020 Issue 083
Publication date: June 2020
ISBN: 9781513537023
$18.00
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Topics covered in this book

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Finance , Inflation , Economics- Macroeconomics , WP , monetary policy , loan , Taylor , housing loan , x inflation gap , Macroprudential policies , Lean-against-the-wind monetary policy rule , Dynamic stochastic general equilibrium model , Thailand , world interest rate , LTV rule , household LTV cap , Macroprudential policy instruments , Macroprudential policy , Financial sector stability , Housing , Inflation , monetary policy transmission , inflation stability , inflation gap , world interest rate shock

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August 2009 Working Papers
April 2010
March 2010
January 2010
Summary

A dynamic stochastic general equilibrium (DSGE) model tailored to the Thai economy is used to explore the performance of alternative monetary and macroprudential policy rules when faced with shocks that directly impact the financial cycle. In this context, the model shows that a monetary policy focused on its traditional inflation and output objectives accompanied by a well targeted counter-cyclical macroprudential policy yields better macroeconomic outcomes than a lean-against-the-wind monetary policy rule under a wide range of assumptions.

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