This paper attempts to identify the effects of monetary policy shock on output and price level in Thailand during 2005Q … employed to identify the monetary policy shock. To enhance the precision of the model specification, the short-run restrictions … simultaneously with each other. The results from the analysis of the structural model reveal that a shock to monetary policy drives …

effects begin to be observed from the fifth month after the monetary shock occurred, with an average duration of two years …

estimate this over-identified VAR model, I find that the policy shock transmits to real output through both the interest rate … and exchange rate channels, and the shock does not induce a departure from uncovered interest rate parity. I also find …. Finally, I find that Canadian variables significantly responds to the US federal funds rate shock, and external shocks are an …

tight monetary policy, which is captured with a positive shock to interest rate, decrease the exchange rate, output and … prices as the economic theory suggest. The effects of the loose monetary policy, which is captured with a negative shock to …. Moreover, as the magnitude of shock increases, the difference between the effects of tight and loose monetary policy policies …

small; 3) Once plausible values of the price elasticity of governments spending are imposed, the negative effects of …

, Divisia mitigates the price puzzle phenomenon relative to the conventional measure. We conclude that Divisia monetary …

identifies oil price shocks through fundamentals affecting the oil market. Impulse responses show the significance of our two … signiÖcant effect of money supply shocks on real oil prices. Decomposition of historical oil price shocks shows a significant … role played by inflation expectations and the money supply shocks during major oil shock episodes. These shocks partially …

Previous research indicates that the price-output correlation is time varying. This paper therefore estimates a VAR … with a bivariate GARCH error process to obtain a time series of quarterly estimates of the price-output correlation for the …