Jain-Chandra, Sonali; Kim, Min Jung; Park, Sung Ho; … - International Monetary Fund (IMF) - 2013
Korea was hit hard by the 2008 global financial crisis, with the foreign bank deleveraging channel coming prominently … 2008. Impulse responses from a Dynamic Stochastic General Equilibrium (DSGE) model calibrated to Korea shows that it … appears better prepared to handle such shocks relative to 2008. Indeed, Korea is much more resilient to such shocks due to the …
