🍂 Autumn reading time! Let our AI Librarian find your perfect cozy read 🫖
Explore the literary world of this author
Governments face difficult policy trade-offs with record debt levels, tightening monetary policies, and urgent demands, including food and energy cris...
We study the role of financial frictions in explaining the sharp and persistent productivity growth slowdown in advanced economies after the 2008 glob...
During the COVID-19 pandemic and global financial crisis, governments swiftly served as financiers of last resort through large financial support meas...
The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to achieve the price stability ta...
Nominal wage growth in most advanced economies remains markedly lower than it was before the Great Recession of 2008–09. This paper finds that the b...
Business Cycle and Policy Implications
We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing pri...
Three years have passed since the Bank of Japan’s asset purchase program was introduced in 2011, causing a sharp decline in the value of the Japanes...
Fiscal policy has a crucial role in lessening the impact on the most vulnerable households. Governments must balance by ensuring access to energy and ...
Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel p...
How do policy communications on future f iscal targets af fect market expectations and beliefs about the future conduct of f iscal policy? In this pap...
China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global suppl...
Fiscal policy uncertainty (FPU)—ambiguity in government spending and tax plans, as well as in public debt valuation—is widely regarded as a source...
Productivity growth in Japan, as in most advanced economies, has moderated. This paper finds supportive evidence for the important role of small and m...
Asian countries have high demand for U.S. dollars and are sensitive to U.S. dollar funding costs. An important, but often overlooked, component of the...
In this paper, we investigate how negative interest rate policy (NIRP) introduced in January 2016 by the Bank of Japan (BoJ) affected Japanese banks' ...
A Disaggregated Look into the Role of Global Value Chains and Economic Complexity
Singapore is one of the world’s most open economies, with the size of its trade reaching about 350 percent of its GDP. With the rise of highly diver...
In this paper, we examine how economic shocks affect the distribution of household inflation expectations. We show that the dynamics of households' ex...
Superficial examination of aggregate gross cross-border capital inflow data suggests that there was no substitution between portfolio inflows and bank...
Understanding how markets are connected and shocks are transmitted is an important issue for policymakers and market participants. In this paper, we e...
Advanced economies made available more than 5 trillion USD through government-supported credit guarantee and direct loan programs to provide lifelines...
Singapore is one of the world's most open economies, with the size of its trade reachingabout 350 percent of its GDP. With the rise of highly diversif...
How does a shrinking population affect the housing market? In this study, drawing on Japan's experience, we find that there exists an asymmetric relat...