Open AccessMonetary Policy and the Real Economy: A Structural VAR Approach for Kazakhstan
Author(s) -
Zinauova Bekbolatkyzy Nurgul,
Tautanova Zere,
Zhen Liu
Publication year - 2020
Publication title -
international young scholars workshop
Language(s) - English
Resource type - Journals
ISSN - 2709-1120
DOI - 10.47344/iysw.v9i0.126
Subject(s) - monetary policy , economics , exchange rate , monetary economics , index (typography) , oil price , interest rate , effective exchange rate , macroeconomics , world wide web , computer science
This paper shows monetary policy indicator which better explains Kazakhstani transmission mechanism. The study also discusses how foreign monetary policy or oil prices affect domestic macroeconomic variables. We use a seven variable by utilizing quarterly time series data from Kazakhstan covering the period from January 2005 to December 2017. They are: interest rate, exchange rate, output, reserve money, consumer price index, then, World oil price index and Federal Funds rate.