MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN
This study will analyze the impact of monetary policy shocks to the economy of Japan. For further analysis, I will utilize structural VAR and forecast the impact of monetary policy shock by using impulse response function. This study will use money supply or M2 and interest rate as the monetary inst...
| Main Authors: | , |
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| Format: | Thesis |
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[Yogyakarta] : Universitas Gadjah Mada
2013
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| Subjects: |
| _version_ | 1826047047641333760 |
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| author | , Janiarti Siola Marthen , Prof. Chun-Hung Kuo, Ph.D |
| author_facet | , Janiarti Siola Marthen , Prof. Chun-Hung Kuo, Ph.D |
| author_sort | , Janiarti Siola Marthen |
| collection | UGM |
| description | This study will analyze the impact of monetary policy shocks to the economy of
Japan. For further analysis, I will utilize structural VAR and forecast the impact of
monetary policy shock by using impulse response function. This study will use
money supply or M2 and interest rate as the monetary instruments. The empirical
results of this study show that the positive shock in M2 will cause the aggregate
economy increase gradually. The effect of shock in M2 to real output, real
consumption, real investment, and inflation rate will reach its peak at the certain
period and afterwards the effect will die out gradually. In this case, the economy
of Japan experiences an expansionary monetary policy shock. Another finding of
this study is the positive shock in interest rate will cause declining in the
aggregate economy. At the particular period, real output, real consumption, real
investment, and inflation rate will experience the biggest shock as the response of
shock in interest rate. Then, the effect will disappear gradually. In this case, the
economy of Japan encounters a contractionary monetary policy shock. |
| first_indexed | 2024-03-13T23:03:52Z |
| format | Thesis |
| id | oai:generic.eprints.org:123541 |
| institution | Universiti Gadjah Mada |
| last_indexed | 2024-03-13T23:03:52Z |
| publishDate | 2013 |
| publisher | [Yogyakarta] : Universitas Gadjah Mada |
| record_format | dspace |
| spelling | oai:generic.eprints.org:1235412016-03-04T08:39:26Z https://repository.ugm.ac.id/123541/ MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN , Janiarti Siola Marthen , Prof. Chun-Hung Kuo, Ph.D ETD This study will analyze the impact of monetary policy shocks to the economy of Japan. For further analysis, I will utilize structural VAR and forecast the impact of monetary policy shock by using impulse response function. This study will use money supply or M2 and interest rate as the monetary instruments. The empirical results of this study show that the positive shock in M2 will cause the aggregate economy increase gradually. The effect of shock in M2 to real output, real consumption, real investment, and inflation rate will reach its peak at the certain period and afterwards the effect will die out gradually. In this case, the economy of Japan experiences an expansionary monetary policy shock. Another finding of this study is the positive shock in interest rate will cause declining in the aggregate economy. At the particular period, real output, real consumption, real investment, and inflation rate will experience the biggest shock as the response of shock in interest rate. Then, the effect will disappear gradually. In this case, the economy of Japan encounters a contractionary monetary policy shock. [Yogyakarta] : Universitas Gadjah Mada 2013 Thesis NonPeerReviewed , Janiarti Siola Marthen and , Prof. Chun-Hung Kuo, Ph.D (2013) MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN. UNSPECIFIED thesis, UNSPECIFIED. http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=63653 |
| spellingShingle | ETD , Janiarti Siola Marthen , Prof. Chun-Hung Kuo, Ph.D MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN |
| title | MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN |
| title_full | MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN |
| title_fullStr | MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN |
| title_full_unstemmed | MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN |
| title_short | MONETARY POLICY SHOCKS AND THE AGGREGATE ECONOMY:A SVAR ANALYSIS OF JAPAN |
| title_sort | monetary policy shocks and the aggregate economy a svar analysis of japan |
| topic | ETD |
| work_keys_str_mv | AT janiartisiolamarthen monetarypolicyshocksandtheaggregateeconomyasvaranalysisofjapan AT profchunhungkuophd monetarypolicyshocksandtheaggregateeconomyasvaranalysisofjapan |