The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries : The Case of Thailand »
Series: IMF Working Papers
Author(s): Ivan Tchakarov , and Selim Elekdag
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 2006
Keywords: Exchange rate regimes, Global Economy Model (GEM), financial accelerator, balance sheets, exchange rate, flexible exchange rate, exchange rate regime, bond, bond market, Open Economy Macroeconomics
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 e...