04883oam 22010694 450 991078869660332120230828230406.01-4623-4476-31-4527-1584-X1-283-51824-41-4519-0904-79786613830692(CKB)3360000000443993(EBL)3014445(SSID)ssj0000939932(PQKBManifestationID)11596386(PQKBTitleCode)TC0000939932(PQKBWorkID)10938517(PQKB)10106759(OCoLC)694141102(MiAaPQ)EBC3014445(IMF)WPIEE2006110(EXLCZ)99336000000044399320020129d2006 uf 0engur|n|---|||||txtccrThe Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries : The Case of ThailandWashington, D.C. :International Monetary Fund,2006.1 online resource (24 p.)IMF Working Papers"May 2006."1-4518-6370-5 Includes bibliographical references.""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""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.IMF Working Papers; Working Paper ;No. 2006/110Business cyclesThailandEconometric modelsForeign exchange ratesThailandEconometric modelsInterest ratesThailandEconometric modelsAccountingimfBanks and BankingimfFinance: GeneralimfForeign ExchangeimfPublic AdministrationimfPublic Sector Accounting and AuditsimfInterest Rates: Determination, Term Structure, and EffectsimfGeneral Financial Markets: General (includes Measurement and Data)imfCurrencyimfForeign exchangeimfFinanceimfFinancial reporting, financial statementsimfExchange rate arrangementsimfFinancial statementsimfExchange rate flexibilityimfReal interest ratesimfEmerging and frontier financial marketsimfFinance, PublicimfInterest ratesimfFinancial services industryimfUnited StatesimfBusiness cyclesEconometric models.Foreign exchange ratesEconometric models.Interest ratesEconometric models.AccountingBanks and BankingFinance: GeneralForeign ExchangePublic AdministrationPublic Sector Accounting and AuditsInterest Rates: Determination, Term Structure, and EffectsGeneral Financial Markets: General (includes Measurement and Data)CurrencyForeign exchangeFinanceFinancial reporting, financial statementsExchange rate arrangementsFinancial statementsExchange rate flexibilityReal interest ratesEmerging and frontier financial marketsFinance, PublicInterest ratesFinancial services industryInternational Monetary Fund.Asia and Pacific Dept.DcWaIMFBOOK9910788696603321The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries3823294UNINA