 | High Growth and Low Consumption in East Asia : How to Improve Welfare While Avoiding Financial Failures Author/Editor: Celine Rochon, Andrew Feltenstein, Maral Shamloo. Release Date:December, 2007 This paper analyzes certain policies that are typical of a number of rapidly growing East Asian countries in which a fixed exchange rate, combined with a surplus labor market, has made domestic more...
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| Can Good Events Lead to Bad Outcomes? Endogenous Banking Crises and Fiscal Policy Responses Author/Editor: Celine Rochon, Andrew Feltenstein. Release Date:November, 2006 In this paper, we study the impact of labor market restructuring and foreign direct investment on the banking sector, using a dynamic general equilibrium model with a financial sector. Numerical more...
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