worldtradable goods prices. Indeed, trade prices were fallingthroughout Asia by similar magnitudes, regardless of howmuch each …

[...]In our view, this apparently surprising immunity of the U.S.economy to the Asia crisis reflects the fact that the …

im folgenden die Entwicklung des asiatischen Luftverkehrsmarktes und der asiatischen Fluggesellschaften betrachtet werden …

business cycle. Further analysis shows, both of these components are subject to stronger influences from the US than from Japan …

In recent policy debates some have argued that expansionary monetarypolicy in Japan can increase real output in Japan … monetary policy shocks on macroeconomic variation in East Asia have been modest and difficult to reconcile with the beggar …-thy-neighbor view. We estimate that the Asian crisis was preceded by expansionary monetary policy shocks in Japan, but we fail to find …