Applied Economics Journal

Applied Economics Journal

ISSN 0858-9291

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  • AEJ highlights the applications of concepts and theories to issues in micro- and macroeconomics
  • Double-blind peer review
  • Two issues a year (Jun, Dec)
  • Open access to all full-text content

Vol. 14 No. 1
Vol. 14 No. 1
The Impacts of Monetary Policy Transmission Mechanism on Thai Economy


Waroonyupa Aiemjoy and Santiya Eag-ark


This study highlights on the analysis of Thailand monetary policy transmission mechanism in various channels, i.e. interest rate, credit, exchange rate, expectation, and asset price channels, by comparing their impacts on private consumption and private investment. The analytical methods are the unit root test, vector autoregressive (VAR) and impulse response function. The results show that the asset price channel had the greatest impact on private consumption; the interest rate channel had the greatest impact on private investment; and all channels had a greater impact on private investment than on private consumption.

Keywords:   monetary policy, private consumption, private investment

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Faculty of Economics Kasetsart University :  Center for Applied Economic Research (CAER) :  Other Journals :  Thai-Journal Citation Index Centre (TCI) (TCI)

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Kasersart University Journal of Economics
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