The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries: The Case of Thailand
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 i...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2006
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Schriftenreihe: | IMF Working Papers
Working Paper No. 06/110 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 |
Beschreibung: | 1 Online-Ressource (24 p) |
ISBN: | 1451863705 9781451863703 |
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spelling | Tchakarov, Ivan Verfasser aut The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand Tchakarov, Ivan Washington, D.C International Monetary Fund 2006 1 Online-Ressource (24 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 06/110 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 Online-Ausg Elekdag, Selim Sonstige oth http://elibrary.imf.org/view/IMF001/07275-9781451863703/07275-9781451863703/07275-9781451863703.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Tchakarov, Ivan The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand |
title | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand |
title_auth | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand |
title_exact_search | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand |
title_exact_search_txtP | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand |
title_full | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand Tchakarov, Ivan |
title_fullStr | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand Tchakarov, Ivan |
title_full_unstemmed | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries The Case of Thailand Tchakarov, Ivan |
title_short | The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries |
title_sort | the role of interest rates in business cycle fluctuations in emerging market countries the case of thailand |
title_sub | The Case of Thailand |
url | http://elibrary.imf.org/view/IMF001/07275-9781451863703/07275-9781451863703/07275-9781451863703.xml |
work_keys_str_mv | AT tchakarovivan theroleofinterestratesinbusinesscyclefluctuationsinemergingmarketcountriesthecaseofthailand AT elekdagselim theroleofinterestratesinbusinesscyclefluctuationsinemergingmarketcountriesthecaseofthailand |