IMF Working Papers

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

ByGregorio Impavido

August 29, 2025

More Formats on IMF eLibrary
Order a Print Copy

Preview Citation

Format: Chicago

Gregorio Impavido. "Monetary Policy Effectiveness in Kazakhstan: Results With a Small Macro Model", IMF Working Papers 2025, 173 (2025), accessed 12/6/2025, https://doi.org/10.5089/9798229016988.001

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

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.

Subject: Central bank policy rate, Econometric analysis, Financial services, Inflation, Output gap, Prices, Production, Structural vector autoregression

Keywords: Central bank policy rate, effectiveness of monetary policy, Inflation, macro model, Monetary policy effectiveness, Output gap, parametric restrictions, sign restriction, sign restrictions, Structural vector autoregression, summary statistics, SVARs

You May Also Be Interested In...

Tourism in the Post-Pandemic World: Economic Challenges and Opportunities for Asia-Pacific and the Western Hemisphere: November 2025

11/3/2025

The Evolving Growth Model of Lithuania: Republic of Lithuania

10/13/2025

Potential Growth and Migration: Republic of Lithuania

10/13/2025

Reforming Energy Subsidies in the Arab Region

10/9/2025

Allocative Efficiency, Firm Dynamics, and Productivity in Latvia: Republic of Latvia

10/7/2025