This paper seeks to answer two main questions. First, given a relatively small contribution of private investment to output growth at present, will the recovery of output be anemic? And second, if private investment is crucial to sustainable output growth, what more could Thailand do to enhance...

This paper offers a justification for and assurance of the efficiency of a monetary policy design that is based on using core inflation as the policy target. Illustrated in a New Keynesian framework where the microeconomic foundation with rigidities of various types is the central feature, the...