THE ROLE OF FOREIGN DEBT AND FINANCIAL FRICTIONS IN A SMALL OPEN ECONOMY DSGE MODEL

We examine the role of foreign debt and financial frictions in the Korean business cycle using a small open economy DSGE (dynamic stochastic general equilibrium) model where domestic banks borrow external funds, denominated in foreign currencies, for a risk premium and make loans to domestic produce...

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Veröffentlicht in:	Singapore economic review 2016-12, Vol.61 (5), p.1550077
Hauptverfasser:	YIE, MYUNG-SOO, YOO, BYOUNG HARK
Format:	Artikel
Sprache:	eng
Online-Zugang:	Volltext
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