What Can Macroeconometric Models Say About Asia-Type Crises?
نویسنده
چکیده
This paper uses a multicountry econometric model to examine Asia-type crises. Experiments are run for Thailand, Malaysia, the Philippines, and Korea, each corresponding to a depreciation of the country’s currency. The results suggest that both the expansionary and inflationary effects of a depreciation are in general fairly large.
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