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"What Can Macroeconometric Models Say About Asia-Type
for presentation at the Twelfth World Congress of the International Economic
Association, Buenos Aires, Argentina, August 23-27, 1999, unpublished.
pdf file (46KB).
This paper uses a multicountry econometric model to examine Asia-type
crises. Experiments are run for Thailand, Malaysia, the Philippines,
and Korea, each corresponding to a depreciation of the country's
currency. The results suggest that both the expansionary
and inflationary effects of a
depreciation are in general fairly large.
This paper uses the MC model to examine Asia-type crises.
The results in this paper can be duplicated on this site. Chapter 3
of The MC2 Model Workbook explains how to do
this--Chapter 3, MC2 Workbook.