Monetary policy less effective during high economic uncertainty in major Asian economies.
The study looked at how well monetary policy works in major Asian countries during times of high and low economic uncertainty. They used a special model to see how interest rates affect things like industrial production and consumer prices. The results showed that monetary policy is less effective when uncertainty is high. Also, the effects of interest rates and uncertainty on Asian economies are different depending on the situation. Overall, monetary policy has a bigger impact during uncertain times compared to normal times.