VAR Analysis of the Monetary Transmission Mechanism in Kazakhstan

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Date

2020

Journal Title

Journal ISSN

Volume Title

Publisher

2020 International Young Scholars Workshop

Abstract

Abstract. This article helps to evaluate the work of the main channels of the monetary policy transfer mechanism, namely, the work of the interest rate channel, exchange rate, and lending channel in the Republic of Kazakhstan, by the help of vector regression model (VAR). It was revealed that the main transmission channel in the study period from 2005 to 2019 in Kazakhstan was the exchange rate channel. The other two remaining channels of the monetary policy transmission mechanism (the bank lending channel and the interest rate channel) were of secondary importance

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Keywords

Monetary policy, transmission mechanism, vector autoregression, Kazakhstan, 2020 International Young Scholars Workshop, №9

Citation

Saydaliev H , Kalikhan A , Rakisheva A / VAR Analysis of the Monetary Transmission Mechanism in Kazakhstan / 2020 International Young Scholars Workshop