THE PRICE OF DEBT: MONETARY-FISCAL POLICY COORDINATION AND CAPITAL ACCUMULATION UNDER INSTITUTIONAL CONSTRAINTS IN THAILAND
This study examines the dynamic relationships among public debt, monetary policy, and capital accumulation in Thailand from 2005 to 2025. Using a Vector Error Correction Model (VECM), Impulse Response Functions (IRFs), and Forecast Error Variance Decomposition (FEVD), the analysis distinguishes short-run adjustments fr...