| Description |
1 online resource (22 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/06/110 |
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IMF working paper ; WP/06/110.
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| Contents |
Contents -- I. INTRODUCTION -- II. INTEREST RATES AND BUSINESS CYCLES -- III. THE GLOBAL ECONOMY MODEL WITH THE FINANCIAL ACCELERATOR -- IV. THE EFFECTS OF A 1 PERCENT U.S. INTEREST RATE HIKE -- V.A REPEAT OF THE GLOBAL BOND MARKET ROUT OF 1994? -- VI. WHAT ROLE FOR MONETARY POLICY? -- VII. CONCLUSION -- REFERENCES |
| Summary |
Emerging market countries have enjoyed an exceptionally favorable economic environment throughout 2004, 2005, and early 2006. In particular, accommodative U.S. monetary policy in recent years has helped create an environment of low interest rates in international capital markets. However, if world interest rates were to take a sudden upward course, this would lead to less hospitable financing conditions for emerging market countries. The purpose of this paper is to measure the effects of world interest rate shocks on real activity in Thailand. The analysis incorporates balance sheet related credit market frictions into the IMF's Global Economy Model (GEM) and finds that Thailand would best minimize the adverse effects of rising world interest rates if it were to follow a flexible exchange rate regime |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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Print version record |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Business cycles -- Thailand -- Econometric models
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Foreign exchange rates -- Thailand -- Econometric models
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Interest rates -- Thailand -- Econometric models
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Business cycles -- Econometric models
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Foreign exchange rates -- Econometric models
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Interest rates -- Econometric models
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Thailand
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| Form |
Electronic book
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| Author |
Elekdag, Selim, author.
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International Monetary Fund. Asia and Pacific Department.
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| ISBN |
1283518244 |
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9781283518246 |
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9781451909043 |
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1451909047 |
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1462344763 |
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9781462344765 |
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145271584X |
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9781452715841 |
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9786613830692 |
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6613830690 |
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