Successful PhD defence by Mai Lan Nguyen
On 24 October 2019, Mai Lan Nguyen successfully defended her PhD thesis entitled 'The Output and Price Effects of Monetary Policy in Emerging and Developing Countries with a Special Case Study of Vietnam'
Her research investigated the output and price effects of monetary policy in emerging and developing countries with a focus on the case of Vietnam.
The research primarily focused the effects of monetary policy on output and price level in the short-term. The thesis is based on the vector auto-regressive (VARs) findings of existing studies to synthesize the effects and employ a VAR application for Vietnam.
The thesis aimed to provide an answer to three specific questions:
- What are the meta effects (the magnitude, the sign) of monetary policy on output and price level in the context of emerging and developing countries? Are the reported findings of vector auto-regressive models in the existing literature of the effect of monetary policy affected by a publication bias? What are underlying drivers of the heterogeneity of the reported effects in the existing studies?
- What is the nature (the frequency of occurrence, the persistence and the time lags) of the anomalous effects – the so called the “price puzzle” – of a tighter monetary policy in emerging and developing countries. What are the possible determinants of the “price puzzles”?
- How effective is the monetary policy in Vietnam since the adoption of the Law (No. 01/1997/QH10) on the Central Bank? Is a monetary policy in Vietnam useful to control inflation?