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Currency Crises and the Real Economy: The Role of Banks

  • Piti Disyatat

    (Bank of Thailand)

In this study, a computable general equilibrium model is developed and is used as a tool for measuring and analysing structural changes in the Thai economy. The technique of historical simulation is used to trace the patterns of structural changes during 1990 to 1995. These patterns of structural changes are classified into five major factors, i.e. technology, taste, trade, investment, and general macro factors. After obtaining results of structural changes (from historical simulation), decomposition simulation is carried out to quantify the contributions of structural changes to the output growth of industries and the growth of selected macro variables.

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Paper provided by Economic Research Department, Bank of Thailand in its series Working Papers with number 2002-08.

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Length: 26 pages
Date of creation: Feb 2002
Date of revision:
Handle: RePEc:bth:wpaper:2002-08
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  13. Maurice Obstfeld, 1994. "The Logic of Currency Crises," NBER Working Papers 4640, National Bureau of Economic Research, Inc.
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  16. Giancarlo Corsetti & Paolo Pesenti & Nouriel Roubini, 1998. "What Caused the Asian Currency and Financial Crisis?," Temi di discussione (Economic working papers) 343, Bank of Italy, Economic Research and International Relations Area.
  17. Xavier Freixas & Jean-Charles Rochet, 1997. "Microeconomics of Banking," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061937, June.
  18. Bernanke, Ben S & Blinder, Alan S, 1988. "Credit, Money, and Aggregate Demand," American Economic Review, American Economic Association, vol. 78(2), pages 435-39, May.
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  21. Diamond, Douglas W & Dybvig, Philip H, 1983. "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 401-19, June.
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