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Despite the rapid economic growth and poverty reduction, inequality in Asia worsened during last two decades. We focus on the determinants of growth i...
Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shi...
Easing Japan’s Labor Shortages
Data and anecdotal evidence suggest that Japan is suffering from labor shortages, which are large in an international perspective, have a negative imp...
Does Revamping Japan’s Dual Labor Market Matter?
This paper argues that Japan’s excessive labor market duality can reduce Total Factor Productivity (TFP) due to a negative impact on non-regular wor...
a Global VAR approach
We use a Global VAR model to study spillovers from the Bank of Japan’s quantitative and qualitative easing (QQE) on emerging Asia.1 Our main result ...
This paper presents a dataset of fiscal consolidation for 17 OECD economies during 1978-2020 and 14 economies in Latin America and the Caribbean durin...
We analyze the welfare multipliers of public spending (the consumption equivalent change in welfare for one dollar change in public spending) in a DSG...
We revisit the question of the quantitative benefits of WTO trade agreements in a setup that is non-standard from the traditional trade policy point o...
We assess the ongoing reform efforts in Japan in terms of inclusive growth. We use prefectural level panel data to regress a measure of inclusive grow...
Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest o...
This paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our ba...
The assessment of external positions and exchange rates of member countries is a key mandate of the IMF. The External Balance Assessment (EBA) methodo...