Rate pass-through 'weaker and slower' in Mongolia – paper

bank-of-mongolia
The Bank of Mongolia

Mongolia has been forced to respond to a sharp slowdown since the boom of the early twenty-first century, but countercyclical policy is hampered by a weak monetary transmission mechanism, a paper published today (December 1) by the Bank of Mongolia finds.

The paper, which will appear in the journal The Developing Economies, says it adopts a different approach to earlier literature. Authors Gan-Ochir Doojav and Kaliappa Kalirajan use both linear and nonlinear autoregressive distributed lag models

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