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Monitoring the behavior of potential output helps policymakers implement appropriate policies in response to an economic crisis. In the short-run, estimates of the output gap can guide the timing of the implementation and withdrawal of stimulus measures. In the medium- to long-term, these...
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Over the past two years, the key trading economies in SE Asia experienced major economic crises, involving financial … macroeconomic consequences of the Asia crisis and their predictability from the perspective of the OECD countries. In doing so it … examines some of the major aspects of the Asia crisis, its effects on the world situation and their predictability, assisted by …
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along with globalization doctrines. On the contrary, fuels for South Asia (SASIA) and Latin America and Caribbean (LAC …
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The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed. This paper develops a model of the Chinese economy using a DSGE framework with a banking sector to shed light on this episode. It differs from other applications in the use of...
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heterogeneity within our sample permitted us to demonstrate that fuels for South Asia (SASIA) and Latin America and Caribbean (LAC …
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This paper investigates contagion effects. In a model with highly and lowly informed investors we show that a currency crisis in one country can trigger a crisis in another country. Portfolio losses of the highly informed investors in one country will force them to withdraw capital from the...
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