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REVIEW OF THE LITERATURE 2 2
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1989 respectively 7.8 percent adjusting the policies bank loan rate Bank of Thailand billion baht billions of 1972 billions of baht Brookings and Wharton Brookings model central bank loan commercial bank loans compensation of employees consumer price index Current Price deflator for output deflator for personal disposable personal income endogenous variables estimated equations estimation technique fiscal policy food and beverages forecast results government consumption expenditures government sector government transfers growth rate implicit price deflator income sector inflation rate INRC inventory investment labor sector loans and overdrafts macroeconometric model maximum interest rate maximum loan rate monetary policy monetary sector money supply nondurable percent in 1986 personal consumption expenditures personal consumption sector policy simulations policy variables previous period price and wage production sector rate of real rational expectations real GNP required reserve ratio RMSE root mean square seemingly unrelated regressions Table Thai economy total employment total exports TSLS wage sector Wharton model