Monetary Policy Effectiveness in Kazakhstan: Results With a Small Macro Model

Gregorio Impavido

No 2025/173, IMF Working Papers from International Monetary Fund

Abstract: This paper assesses the effectiveness of monetary policy in Kazakhstan using a small macro model and identifies alternative plausible economic structures consistent with priors on the sign of responses of macro variables to structural shocks. Monetary policy effectiveness has increased over time.

Keywords: Monetary policy effectiveness; SVARs; parametric restrictions; sign restrictions; sign restriction; effectiveness of monetary policy; summary statistics; macro model; Output gap; Inflation; Structural vector autoregression; Central bank policy rate (search for similar items in EconPapers)
Pages: 22
Date: 2025-08-29
New Economics Papers: this item is included in nep-cba, nep-cis, nep-mac, nep-mon and nep-tra
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