Edison, Hali J; Luangaram, Pongsak; Miller, Marcus - C.E.P.R. Discussion Papers - 1998
Credit market imperfections have been blamed for the depth and persistence of the Great Depression in the US. Could similar mechanisms have played a role in ending the East Asian miracle? After a brief account of the nature of the recent crises, we use Kiyotaki and Moore’s (1997) model of...
