LEADER 05218oam 22011894 450 001 9910975071503321 005 20250426110921.0 010 $a9786613830692 010 $a9781462344765 010 $a1462344763 010 $a9781452715841 010 $a145271584X 010 $a9781283518246 010 $a1283518244 010 $a9781451909043 010 $a1451909047 035 $a(CKB)3360000000443993 035 $a(EBL)3014445 035 $a(SSID)ssj0000939932 035 $a(PQKBManifestationID)11596386 035 $a(PQKBTitleCode)TC0000939932 035 $a(PQKBWorkID)10938517 035 $a(PQKB)10106759 035 $a(OCoLC)694141102 035 $a(IMF)WPIEE2006110 035 $a(MiAaPQ)EBC3014445 035 $a(IMF)WPIEA2006110 035 $aWPIEA2006110 035 $a(EXLCZ)993360000000443993 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries : $eThe Case of Thailand /$fIvan Tchakarov, Selim Elekdag 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (24 p.) 225 1 $aIMF Working Papers 300 $a"May 2006." 311 08$a9781451863703 311 08$a1451863705 320 $aIncludes bibliographical references. 327 $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"" 330 3 $aEmerging market countries have enjoyed an exceptionally favorable economic environment throughout 2004, 2005, and early 2006. In particular, accommodative U.S. monetary policy in recent years has helped create an environment of low interest rates in international capital markets. However, if world interest rates were to take a sudden upward course, this would lead to less hospitable financing conditions for emerging market countries. The purpose of this paper is to measure the effects of world interest rate shocks on real activity in Thailand. The analysis incorporates balance sheet related credit market frictions into the IMF?s Global Economy Model (GEM) and finds that Thailand would best minimize the adverse effects of rising world interest rates if it were to follow a flexible exchange rate regime. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/110 606 $aBusiness cycles$zThailand$xEconometric models 606 $aForeign exchange rates$zThailand$xEconometric models 606 $aInterest rates$zThailand$xEconometric models 606 $aAccounting$2imf 606 $aBanks and Banking$2imf 606 $aCurrency$2imf 606 $aEmerging and frontier financial markets$2imf 606 $aExchange rate arrangements$2imf 606 $aExchange rate flexibility$2imf 606 $aFinance$2imf 606 $aFinance, Public$2imf 606 $aFinance: General$2imf 606 $aFinancial reporting, financial statements$2imf 606 $aFinancial services industry$2imf 606 $aFinancial statements$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInterest rates$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aPublic Administration$2imf 606 $aPublic Sector Accounting and Audits$2imf 606 $aReal interest rates$2imf 607 $aUnited States$2imf 615 0$aBusiness cycles$xEconometric models. 615 0$aForeign exchange rates$xEconometric models. 615 0$aInterest rates$xEconometric models. 615 7$aAccounting 615 7$aBanks and Banking 615 7$aCurrency 615 7$aEmerging and frontier financial markets 615 7$aExchange rate arrangements 615 7$aExchange rate flexibility 615 7$aFinance 615 7$aFinance, Public 615 7$aFinance: General 615 7$aFinancial reporting, financial statements 615 7$aFinancial services industry 615 7$aFinancial statements 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInterest rates 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aPublic Administration 615 7$aPublic Sector Accounting and Audits 615 7$aReal interest rates 700 $aTchakarov$b Ivan$01815906 701 $aElekdag$b Selim$01104193 712 02$aInternational Monetary Fund.$bAsia and Pacific Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910975071503321 996 $aThe Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries$94371524 997 $aUNINA