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Open research questions in Monetary Policy and Economic Impact

103 unresolved questions extracted from the limitations and future-work sections of 5,496 Monetary Policy and Economic Impact papers in our library. Each links back to the study that raised it.

What the literature leaves open

  • Furthermore, future studies may explore advanced deep learning architectures, including Long Short-Term Memory (LSTM), Temporal Convolutional Networks (TCN), Transformer-based models, and hybrid ensemble approaches to further enhance predictive performance and model robustness.

    A Machine Learning-Based Early Warning System for Predicting Rupiah Exchange-Rate Pressure in Indonesia · 2026 · DOI

  • However, previous studies have reported inconsistent findings regarding the effects of inflation, interest rates, and exchange rates on LQ45 stock prices during the post-pandemic period, indicating the need for further empirical investigation.

    Analysis of The Impact of Inflation, Interest Rates, and Exchange Rates on LQ45 Stock Prices on the Indonesia Stock Exchange (2020–2025 Period) · 2026 · DOI

  • The research can be limited by the sample size of 55 observations, which can limit its applicability to the whole population, and the measurement of Exchange Rate in domestic currency per USD does not necessarily measure all the facets of currency risk.

    IMPACT OF EXCHANGE AND INTEREST RATE FLUCTUATIONS ON STOCK MARKET VAR: A STUDY OF THE KSE-100 AND OTHER SOUTH ASIAN INDICES · 2026 · DOI

  • The current research offers insights worth considering on transport infrastructure and the potential for im- proved international tourism in India, along with some drawbacks that have also been identified. To start with, there is a problem of endogeneity; tourism and transport infrastructure may be reinforced by factors whose effects can go both ways, and hence the two-way relationships that observational data can hardly decipher. Although the Granger causality and cointegration tests have been used to test dynamic relationships, there are other unresolved concerns, including reverse causality and the lack of observation on specific variables, such as destination-specific policies or region-based investments, which may have simultaneous effects on both transport investment and tourist flows, thereby biasing the estimated effect. Secondly, the data granularity is a limitation to the analysis. The study is based on 44 years of national-level time-series data. Aggregated data provide a global picture, but at the cost of obscuring important differences at the regional or local levels, where tourism dynamics and infrastructure development exhibit significant variation. Such a macro-level approach does not account for state-specificities and may thus limit the ap- plicability of the results and overrepresent regions of fast or slow growth. Finally, omitted-variable bias may result from failing to account for other potential determinants, such as environmental quality, tourism promotion activities, or socio-political developments, leading to specification errors and biased estimates. Although key controls, such as exchange rates, GDP, population density, and power generation, have been taken into account, region-specific variables that may have affected the results have been omitted. Considering these shortcomings, further research should use disaggregated or regional- level data to reveal the spatial heterogeneity of the tourism-growth nexus. State-of-the-art district-level panel data or spatial econometrics would enable control for unobserved heterogeneity and facilitate stronger causal inference. Additionally, a combination of quantitative and qualitative information on local policies related to tourism or infrastructure development would enhance understanding of the underlying processes. The efforts to address these shortcomings will enable future research to inform more effective policy interventions for sustainable tourism development.

    Planes, Trains and Tourists Gains · 2026 · DOI

  • Future research could address these limitations by incorporating sector-specific blocks, micro-level firm and household data, and endogenous fiscal and supervisory rules, thereby enabling a more precise assessment of how euro adoption affects different income groups, industries and regions – an increasingly important dimension for policy design.

    From Currency Board Arrangement to Euro Area: Structural Risks and Opportunities · 2026 · DOI

  • Unlike previous studies in Nigeria that rely on conventional VAR models, this study provides empirical evidence on regularized techniques, but the scope is limited to a single country and time period.

    Regularized Vector Autoregressive Model for the Assessment of Macroeconomic Variables Associated with Inflation in Nigeria · 2026 · DOI

  • While the study demonstrates superior forecast accuracy of regularized models, the theoretical mechanisms explaining why LASSO and Elastic Net outperform standard VAR in the Nigerian context require deeper investigation.

    Regularized Vector Autoregressive Model for the Assessment of Macroeconomic Variables Associated with Inflation in Nigeria · 2026 · DOI

  • The study focuses exclusively on Nigeria's inflation dynamics; extension of regularized VAR techniques to other emerging economies is needed to generalize findings.

    Regularized Vector Autoregressive Model for the Assessment of Macroeconomic Variables Associated with Inflation in Nigeria · 2026 · DOI

  • Ridge VAR produces excessive shrinkage, attributing over 99% of inflation variance to own shocks, which is an unrealistic decomposition compared to LASSO and Elastic Net approaches.

    Regularized Vector Autoregressive Model for the Assessment of Macroeconomic Variables Associated with Inflation in Nigeria · 2026 · DOI

  • Abstract A growing body of scholarly research has explored the non-linearity of the Phillips curve, but empirical evidence from an African perspective, particularly within the ECOWAS sub-regional context, remains underexplored.

    A new perspective on the asymmetric Phillips curve: Fresh evidence from ECOWAS member countries · 2024 · DOI

  • ABSTRACT: Extant literature investigates on the determinants of NPL (non-performing loan) many a time, however, little is known on the relationship between economic uncertainty and NPL for any developing country.

    Effects of Economic Uncertainty on the Asset Quality of Banking Sector: Evidence from a Developing Country · 2024 · DOI

  • Limitations/future research: As a limitation of this study, the authors state the estimation of the Euro exchange rate's resistance to only one exogenous shock, caused by COVID-19.

    The Euro exchange rate's resistance to the exogenous shock caused by COVID-19 · 2023 · DOI

  • However, given that the inflation literature is sparse, while insights from other forms of disposable-income reduction may not automatically generalize to the current inflationary setting, we identify various knowledge gaps along with a wide-ranging set of questions in need of further research in marketing and retailing.

    Retailing in times of soaring inflation: What we know, what we don't know, and a research agenda · 2023 · DOI

  • Consequently, we argue that prior literature was inconclusive for Argentina as it did not consider invoicing of international trade in foreign currency, thus disregarding the full effect of the terms of trade and real exchange rate on growth compatible with the BOP equilibrium.

    A Balance-of-Payments-Constrained Growth Model for a Small Commodity Exporting Country: Argentina Between 1971 and 2016 · 2021 · DOI

  • This allows us to capture the time‐varying monetary policy characteristics including the recent zero interest rate lower bound (ZLB) state, to account for the state of the business cycle and to address the limited information problem typically inherent in VARs.

    The Government Spending Multiplier at the Zero Lower Bound: Evidence from the United States · 2020 · DOI

  • As inflation still remains within the upper portion of the 3–6% target range, appropriate mix of supply and demand side policies could be explored alongside monetary policy to reduce inflationary pressures.

    The Effectiveness Of Monetary Policy In South Africa Under Inflation Targeting: Evidence from a Time-Varying Factor-Augmented Vector Autoregressive Model · 2019 · DOI

  • Considering the merits of the flexible exchange rate and its ability to absorb asymmetric macroeconomic shocks, results on the basis of a two-variable SVAR model suggest that this ability was lacking in both Hungary and Romania, as regardless of the data used more than 80% of variability in the nominal (real) exchange rate over a four-quarter horizon can be explained by neutral structural shock.

    Flexible Exchange Rates as Shock Absorbers in Central and Eastern Europe · 2015 · DOI

  • First, the evidence obtained from the full period supports a number of important conclusions, one of which is mixed evidence regarding the effect of inflation on inflation uncertainty, another one being strong evidence regarding the positive effect of inflation uncertainty on inflation and output growth.

    DYNAMICS OF INFLATION, OUTPUT GROWTH AND THEIR UNCERTAINTY IN THE UK: AN EMPIRICAL ANALYSIS · 2010 · DOI

  • In light of continuing mixed results in the literature, this paper re‐examines the German Dominance Hypothesis (GDH) and considers whether the UK should join the Eurozone.

    Interest linkages between the US, UK and German interest rates: should the UK join the European Monetary Union? · 2010 · DOI

  • An extended Lucas-Varro real-income equation applied to the US, United Kingdom, Canada, France, Germany, Italy, Japan, and the Netherlands gives mixed results, partly because of price control and decontrol programs.

    Price of oil and world inflation and recession · 1981

  • We would suggest that in fact most economic theories are insufficient in these respects as even if the variables to be included in a model are well specified, the theory generally is imprecise about the lag structure to be used and typically says nothing about the time-series properties of the residuals.

    Spurious regressions in econometrics · 1974 · DOI

  • That taxation is often used to counteract inflation is a sophisticated point not understood by the ordinary consumer. Yet in the case of small goods notions about quantity become easily blurred because of the odd amounts offered and the lack of standardisation of sizes. In this connection it must be clearly realised that consumer time and energy are scarce factors which need to be husbanded and which set limits to learning and to the search for getting the best value for money.

    PRICE IMAGES. INFLATION AND NATIONAL INCOMES POLICY · 1966 · DOI

  • Additionally, there are insufficient incentives currently in place to promote investment in green private-productive capacity, infrastructure, research and development, and decarbonization.

    Analyzing the impacts of International Capital Inflows and Fiscal–Monetary Policies on Climate Change in the Asia-Pacific Region · 2026 · DOI

  • To formulate a recommendation for the most appropriate price index for scanner data, further research on index properties – in both theoretical and empiri- cal terms – is needed, along with analysing the experiences of countries that already use this methodology.

    The Use of Scanner Data for Price Indices Calculation: the Case of Poland · 2026 · DOI

  • By examining the link between inflation and twin deficits, this study not only addresses a key gap in the literature on twin deficits but also lays the groundwork for future investigations into the complex interplay between inflation and macroeconomic imbalances in the Eurozone.

    When Inflation Drives Twin Deficits Catch in the Eurozone · 2025 · DOI

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103 open questions have been extracted from the limitations and future-work passages of 5,496 Monetary Policy and Economic Impact papers in our library. Each one below links back to the study that raised it, so you can read the original claim in context.

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