Object
Title: Assessing Monetary Policy Effects on the Financial System Stability of Armenia
Publication Details:
Journal or Publication Title:
Date of publication:
Number:
ISSN:
Official URL:
Coverage:
Abstract:
This paper focuses on the impact of the monetary policy of the Central Bank of the Republic of Armenia on the stability of the Armenian financial system. This study aims to investigate and assess the relationship between monetary policy and the financial stability index, which we have constructed. The Principal Components Analysis (PCA) method was used to obtain the financial stability index. We used the Vector Autoregressive (VAR) modeling methodology based on annual data for the assessments. An impulse response function was constructed to evaluate how inflation shocks affect the financial stability index over time. By assessing the response of the financial stability index, we modeled the inflation shock, considered an intermediate tool of monetary policy, for the years 2013-2023; we noted that price stability policy has an impact on financial stability policy in Armenia. Specifically, with VAR modeling, the financial stability index responds positively to a one-time inflation shock, with the effects felt for about four years. However, the financial stability index deteriorates after that, assuming negative values. The results indicate that in an inflationary environment, when the economy is in an upward phase, financial stability will be at a high level for several years, but this will be followed by a phase of decline and instability, which many countries worldwide have faced.
Place of publishing:
Երևան
Publisher:
Format:
Identifier:
oai:arar.sci.am:381429
Language:
General note:
Նյութը վերցված է Հայաստանի պետական տնտեսագիտական համալսարանի կայքից։
Object collections:
Last modified:
Jan 30, 2025
In our library since:
Jan 30, 2025
Number of object content hits:
3
All available object's versions:
https://arar.sci.am/publication/412677
Show description in RDF format:
Show description in OAI-PMH format:
-
Բանբեր Հայաստանի պետական տնտեսագիտական համալսարանի=Вестник Армянского государственного экономического университета=Messenger of Armenian State University of Economics
-
Բանբեր ՀՊՏՀ, 2011
-
Բանբեր ՀՊՏՀ, 2012
-
Բանբեր ՀՊՏՀ, 2013
-
Բանբեր ՀՊՏՀ, 2014
-
Բանբեր ՀՊՏՀ, 2015
-
Բանբեր ՀՊՏՀ, 2016
-
Բանբեր ՀՊՏՀ, 2017
-
Բանբեր ՀՊՏՀ, 2018
-
Բանբեր ՀՊՏՀ, 2019
-
Բանբեր ՀՊՏՀ, 2020
-
Բանբեր ՀՊՏՀ, 2021
-
Messenger of ASUE, 2022
-
Messenger of ASUE, 2023
-
Messenger of ASUE, 2024
-
Messenger of ASUE, 2024, 1
-
Messenger of ASUE, 2024, 2
- Editorial board
- Contents
- Job Retention Schemes as a Long-Term Employment Policy Instrument
- Evolution of Studies on the Connection between Economic Growth and Structural Reforms
- Assessment of Factors Affecting the Return on Equity (ROE) in Banks by the Example of Ameriabank CJSC
- Assessing Monetary Policy Effects on the Financial System Stability of Armenia
- Monetary Policy Impact on the Capital Market: Evidence from Armenia
- Livestock Insurance Prospects in the Republic of Armenia
- Impact of CRM on Customer Satisfaction and Customer Loyalty in Armenian Banks
- Teaching Listening Comprehension in the Armenian Classroom Using Bottom-up and Top-down Strategies
- Impact of the Economic Justification of Punishment on the System of Certain Crimes
- Author guidelines
-
Messenger of ASUE, 2024, 3
-
Messenger of ASUE, 2024, 1
-
Բանբեր ՀՊՏՀ, 2011
| Edition name | Date |
|---|---|
| Avetisyan, Marine, Assessing Monetary Policy Effects on the Financial System Stability of Armenia | Jan 30, 2025 |
