In this paper, we examine the effects of introducing constraints on government borrowing using a continuous-time overlapping generations model of a small open economy. We consider government placing constraints on the amount of government bonds outstanding by establishing an upper limit, or...

Over 10 years after the currency crisis, the degree of exchange rate misalignment is still an issue of contention for East Asian countries. This study evaluates the degrees of currency misalignment of Korea, China, Malaysia, Thailand, the Phillipines, and Indonesia by examining absolute...

Looking back around half a century, Thailand has been one of the fastest growing economies in the world. lt also possesses an impressive record in term of poverfy reduction' Whether the two phenomena are related and, if so, how, are of great interest to academic and policymakers. This paper...