The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries : : The Case of Thailand

• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Descrizione fisica: 1 online resource (24 p.)
• Soggetto topico: Business cycles - Thailand - Econometric models; Foreign exchange rates - Thailand - Econometric models; Interest rates - Thailand - Econometric models; Accounting; Banks and Banking; Finance: General; Foreign Exchange; Public Administration; Public Sector Accounting and Audits; Interest Rates: Determination, Term Structure, and Effects; General Financial Markets: General (includes Measurement and Data); Currency; Foreign exchange; Finance; Financial reporting, financial statements; Exchange rate arrangements; Financial statements; Exchange rate flexibility; Real interest rates; Emerging and frontier financial markets; Finance, Public; Interest rates; Financial services industry
• Soggetto geografico: United States
• Note generali: "May 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""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""
• Sommario/riassunto: 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.
• Titolo autorizzato: The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries
• ISBN: 1-4623-4476-3; 1-4527-1584-X; 1-283-51824-4; 1-4519-0904-7; 9786613830692
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788696603321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/110