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Keywords:East Asia 

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Capital flows & current account deficits in the 1990s: why did Latin America & East Asian countries respond differently?

The return of private capital to highly indebted less-developed countries (LDCs) in the late 1980s was accompanied by widening current account deficits in the recipient countries, which were primarily attributed to a consumption boom in Latin America and an investment surge in East Asia. Interpreting the return as an increase in the external debt ceiling, the maximum amount that can be borrowed, this paper analyzes and compares the different response of the two regions using the conceptual framework of a borrowing-constrained agent. According to it, an increase in the debt ceiling can reduce ...
Research Paper , Paper 9610

Journal Article
Are prices countercyclical? Evidence from East Asian countries

Review , Issue Sep , Pages 69-82

Conference Paper
The East Asian financial crisis

Proceedings , Paper 597

Journal Article
Foreign exchange reserves in East Asia: why the high demand?

FRBSF Economic Letter

Journal Article
Trade and growth: some recent evidence

FRBSF Economic Letter

Journal Article
Is pegging the exchange rate a cure for inflation? East Asian experiences

FRBSF Economic Letter

Journal Article
Does Europe's path to monetary union provide lessons for East Asia?

In 1999, eleven European countries adopted the euro as their common currency (Greece followed in 2001). This followed a long period of gradually tying their national currencies together more tightly by limiting exchange rate fluctuations among member countries, culminating in the European Monetary Union (EMU). The experience of Europe has raised the question as to whether countries in other regions of the world can and should follow a similar path towards adopting a common currency. ; East Asia, with some of the most dynamically growing economies in the world, has long been considered a ...
FRBSF Economic Letter

Working Paper
Is pegging the exchange rate a cure for inflation? East Asian experiences

A common argument for pegging the exchange rate is that it enforces discipline on domestic monetary policy, thus stabilizing inflation expectations. This paper argues that this reasoning does not necessarily apply to East Asia, as the nominal exchange rate pegging policies of these economies are not the explanation for their low inflation. On the contrary, since 1985, those economies whose currencies have appreciated less against the U.S. dollar have tended to experience higher inflation. Factors other than pegging, such as rapid growth, sustainable budget deficits, and relative openness ...
Pacific Basin Working Paper Series , Paper 95-08

Conference Paper
On the possibility of the yen bloc

Proceedings

Journal Article
What caused East Asia's financial crisis?

FRBSF Economic Letter

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