Abstract
In this paper we present an extended version of the Asia-Pacific McKibbin-Sachs Global Model (called APMSG hereafter) originally developed in Sundberg (1991). The APMSG is designed for analysis of linkages between industrial countries and developing country regions, and therefore represents a significant extension to the earlier MSG and MSG2 models of Sachs and McKibbin (1985) and McKibbin and Sachs (1992), which incorporated only the external accounts of developing country blocs. We use this model to explore the impacts on the Asia-Pacific region of the recently announced US fiscal consolication and a Japanese fiscal expansion. We also consider the transmission of a monetary expansion in Japan and the United States to the Asia-Pacific region.
Original language | English |
---|---|
Title of host publication | North-South Linkages and International Macroeconomic Policy |
Editors | David Vines, David Currie |
Place of Publication | Cambridge |
Publisher | Cambridge University Press |
Chapter | 9 |
Pages | 235-281 |
Number of pages | 47 |
ISBN (Print) | 0 521 46234 7, 9780521462341 |
Publication status | Published - 1995 |