Three essays on monetary policy analysis in Mongolia
This thesis presents three papers on monetary policy analysis for Mongolia. The first paper measures the lagged effect of the monetary transmission mechanism on inflation and output in Mongolia using a sign-restricted structural vector autoregression (SVAR). We find the following results. First, the lag of the monetary transmission mechanism is about 4 to 12 months for Mongolia. Second, monetary policy shocks play a modest role in explaining output and inflation fluctuations. Third, in response...[Show more]
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