01833cas a2200253 a 4500 AALejournalIMF016480 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513595665 1018-5941 BD-DhAAL BD-DhAAL Dizioli, Allan. A Macro-Model Approach to Monetary Policy Analysis and Forecasting for Vietnam / Allan Dizioli, Jochen M. Schmittmann. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper develops a small New-Keynesian FPAS model for Vietnam. The model closely matches actual data from 2000-2014. We derive an optimal monetary policy rule that minimizes variability of output, inflation, and the exchange rate. Compared to the baseline model, the optimal rule places a larger weight on output stabilization as the intermediate target to achieve inflation stability, while allowing greater exchange rate flexibility. We analyze the dynamics of key macro variables under various shocks including external and domestic demand shocks and a lift-off of U.S. interest rates. We find that the optimal monetary policy rule delivers greater macroeconomic stability for Vietnam under the shock scenarios. Mode of access: Internet Schmittmann, Jochen M. IMF Working Papers; Working Paper ; No. 2015/273 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/273/001.2015.issue-273-en.xml IMF e-Library