Aggregate Demand and Macroeconomic Imbalances in Thailand: Simulations with the Siam 1 Model

摘要

This paper focuses on the demand side adjustments of the Thai economy to lower agricultural growth and to higher energy prices. It draws the implications of the demand responses on the time path of the resource gap, the current account deficit and on the public sector savings gap. The analysis uses an economy-wide model built around a social accounting matrix. It is a fix-price (prices do not respond to excess demand but are cost determined) model which is demand driven for industry, energy and services and is supply driven for agriculture. (Copyright (c) 1981 by The World Bank.)