This paper addresses the roles of exchange rate in monetary policy under inflation targeting (IT) regime, with a particular focus on Thailand. The analysis will examine the role of exchange rate as a channel of monetary policy transmission mechanism, its role as a shock absorber and the...

We model relationships within as well as between two economic regions—Thailand and the rest of the world—and quantify changes in the spillover relationship between international forces and key Thai macroeconomic variables after the adoption of inflation targeting (2000-2008). Within the same...

The impending change in the global economic and nancial landscape will have important implications for the making of monetary policy in Thailand. This paper highlights two key challenges and proposes steps that can help strengthen the existing in ation targeting (IT) framework. First, we...

The impending change in the global economic and nancial landscape will have important implications for the making of monetary policy in Thailand. This paper highlights two key challenges and proposes steps that can help strengthen the existing in ation targeting (IT) framework. First, we...

Explaining exchange rates has long been an important but vexing issue in international economics and nance. In recent years, a number of studies have shown that investors' private information plays a central role in determining exchange rates. We demonstrate in this paper that the private...

In this study, a computable general equilibrium model is developed and is used as a tool for measuring and analysing structural changes in the Thai economy. The technique of historical simulation is used to trace the patterns of structural changes during 1990 to 1995. These patterns of...

In this study, a computable general equilibrium model is developed and is used as a tool for measuring and analysing structural changes in the Thai economy. The technique of historical simulation is used to trace the patterns of structural changes during 1990 to 1995. These patterns of...

Dramatic declines in inflation rates across Asia and falling prices in some countries have recently heightened fears of deflation. This paper aims to shed light on this issue by reviewing the cross-country evidence in Asia and highlighting key observations about recent price developments in the...