The role of interest rates in business cycle fluctuations in emerging market countries : the case of Thailand /

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Bibliographic Details
Author / Creator:Tchakarov, Ivan, author.
Imprint:[Washington, D.C.] : International Monetary Fund, Asia and Pacific Dept., ©2006.
Description:1 online resource (22 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/06/110
IMF working paper ; WP/06/110.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/13357356
Hidden Bibliographic Details
Other authors / contributors:Elekdag, Selim, author.
International Monetary Fund. Asia and Pacific Department.
ISBN:1283518244
9781283518246
9781451909043
1451909047
1462344763
9781462344765
145271584X
9781452715841
9786613830692
6613830690
Digital file characteristics:text file
Notes:Includes bibliographical references.
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
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
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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.
Other form:Print version: Tchakarov, Ivan. Role of interest rates in business cycle fluctuations in emerging market countries. [Washington, D.C.] : International Monetary Fund, Asia and Pacific Dept., 2006
Standard no.:10.5089/9781451909043.001

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245 1 4 |a The role of interest rates in business cycle fluctuations in emerging market countries :  |b the case of Thailand /  |c Ivan Tchakarov and Selim Elekdag. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, Asia and Pacific Dept.,  |c ©2006. 
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520 |a 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. 
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533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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505 0 |a 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 
546 |a English. 
650 0 |a Business cycles  |z Thailand  |x Econometric models. 
650 0 |a Foreign exchange rates  |z Thailand  |x Econometric models. 
650 0 |a Interest rates  |z Thailand  |x Econometric models. 
650 6 |a Taux d'intérêt  |z Thaïlande  |x Modèles économétriques. 
650 6 |a Cycles économiques  |z Thaïlande  |x Modèles économétriques. 
650 6 |a Taux de change  |z Thaïlande  |x Modèles économétriques. 
650 7 |a Business cycles  |x Econometric models.  |2 fast  |0 (OCoLC)fst00842461 
650 7 |a Foreign exchange rates  |x Econometric models.  |2 fast  |0 (OCoLC)fst00931818 
650 7 |a Interest rates  |x Econometric models.  |2 fast  |0 (OCoLC)fst00976180 
651 7 |a Thailand.  |2 fast  |0 (OCoLC)fst01205310 
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