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Business cycles in an emerging economy with financial frictions : the case of Korea created by Yongseung Jung and Doo Yong Yang

By: Contributor(s): Material type: TextTextSeries: International economic journal ; Volume 27, number 2Abingdon: Taylor and Francis, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 10168737
Subject(s): LOC classification:
  • HB1A1 INT
Online resources: Abstract: This paper investigates sources of business cycles in Korea to shed some lights on the effects of economic crisis and the role of financial frictions. For this purpose, it sets up a canonical international real business cycle model augmented by international financial market frictions as in Garcia-Cicco, Pancrazi, and Uribe (Citation2010). The paper applies Watson's (1993) measure of fit to evaluate the role of financial market frictions over Korean business cycles. It finds that the financial frictions have played a limited role in the economic fluctuations in Korea before and after the 1997 financial crisis
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB1A1 INT (Browse shelf(Opens below)) Vol. 27, no. 2 (pages 229-248) SP18072 Not for loan For In house Use

This paper investigates sources of business cycles in Korea to shed some lights on the effects of economic crisis and the role of financial frictions. For this purpose, it sets up a canonical international real business cycle model augmented by international financial market frictions as in Garcia-Cicco, Pancrazi, and Uribe (Citation2010). The paper applies Watson's (1993) measure of fit to evaluate the role of financial market frictions over Korean business cycles. It finds that the financial frictions have played a limited role in the economic fluctuations in Korea before and after the 1997 financial crisis

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