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Modeling Crisis Evolution and Counterfactual Policy Simulations:

dc.contributor.authorIwan J. Azis
dc.description.abstractThis study is using the case of one country, i.e., Indonesia. It describes how that country’seconomic policies evolved and why some of them may have planted the seeds for the subsequent crisis.The paper also discusses the dynamics and sequence of events that took place during the episode. Themechanisms of the process are explained using a comprehensive financial sector general equilibriummodel, in order to help one better understand how various variables and indicators interacted duringthe crisis. In the benchmark run, the values of all exogenous variables (including policy variables) andexogenous events that precipitated the crisis are set equal to their actual (observed) values, and themodel is used to derive the resulting values of the endogenous variables. The results of the simulationclosely replicate the changes and trends that actually occurred.
dc.publisherAsian Development Bank Institute
dc.rightsCC BY 3.0 IGO
dc.titleModeling Crisis Evolution and Counterfactual Policy Simulations:
dc.typeWorking Papers
dc.subject.expertEconomic Crisis
dc.subject.expertEconomic Efficiency
dc.subject.expertEconomic Policies
dc.subject.expertRegional Economic Development
dc.subject.expertPublic Sector Wages
dc.subject.adbEconomic cooperation
dc.subject.adbGross domestic product
dc.subject.adbWage payment systems
dc.subject.naturalFinancial crisis
dc.subject.naturalLabor economics
dc.subject.naturalRegional economics
dc.subject.naturalGuaranteed annual wage
dc.subject.naturalWage differentials
dc.subject.naturalWages and labor productivity
dc.title.seriesResearch Paper Series
dc.contributor.imprintAsian Development Bank
oar.themePublic Sector
oar.adminregionSoutheast Asia Region
oar.authorAzis, Iwan J.

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  • ADBI Research Paper Series
    The Asian Development Bank Institute (ADBI) research paper series disseminate selected work in progress to facilitate an exchange of ideas within academic and policy communities. An objective of the series is to circulate primary findings promptly, regardless of the degree of finish. ADBI’s activities are guided by its three strategic priority themes of inclusive and sustainable growth, regional cooperation and integration, and governance for policies and institutions.

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