| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4630 |
| DP4630 Regional Policy, Integration and the Location of Industry in a Multiregion Framework | |
| Rikard Forslid | |
| 发表日期 | 2004-09-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This Paper provides a quantitative investigation of the East Asian crisis of 1997-99. There are two essential features of the crisis that we focus on. These are: a) the crisis was a regional phenomenon; the depth and severity of the crisis was exacerbated by a large decline in regional demand; and b) the practice of setting export goods prices in dollars (which we document empirically) led to a powerful internal propagation effect of the crisis within the region, contributing greatly to the decline in regional trade flows. We construct a multicountry macroeconomic model with these two features, and show that it can do a reasonable job of accounting for the response of the main macroeconomic aggregates in Korea, Malaysia, and Thailand during the crisis. Without the regional dimension and dollar pricing of exports, the model fails to account for the depth and severity of the crisis. |
| 主题 | International Macroeconomics |
| 关键词 | East asian crisis Small open economy exchange rate |
| URL | https://cepr.org/publications/dp4630 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533550 |
| 推荐引用方式 GB/T 7714 | Rikard Forslid. DP4630 Regional Policy, Integration and the Location of Industry in a Multiregion Framework. 2004. |
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