Isnawangsih, Agnes; Kljuev, Vladimir Vladimirovič; … - 2013
, however, was not uniform. Even in a relatively homogenous group of countries such as ASEAN-4 (Indonesia, Malaysia, the … output performance relative to trend. There are several main reasons for the divergence. First, trade shocks had a larger … impact on more open economies (Malaysia and Thailand). Second, countercyclical fiscal stimulus in Indonesia and the …