Narratives that portray macroeconomic policies in Japan as unlike ones pursued in other large economies persist. I revisit how several factors, including monetary, fiscal, and demographic factors impact Japan, the US, and the euro area. Panel VARs driven by factors or observed macroeconomic...

This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking parallels. It is found that the poor reputation of the Bank...

The paper investigated the difference the EU made to the nature and speed of convergence process in the countries that joined the EU since 2004 relative to countries that converged outside such closely-knit supranational organization. It draws some lessons from this analysis for ASEAN countries....

The production networks in East Asia and European Union are characterized by large shares of trade in intermediate goods or network trade between countries within each region. However the pattern of network trade in the two regions could be very different due to regional variations in...

One view in the literature is that the East Asian economic model is superior to other models in the Global South (i.e. in the developing world), at least in terms of catch-up development and possibly even in innovations beyond the technological frontier. Unlike economic models in Latin America...

Since the outbreak of the Corona virus, policymakers around the globe introduced numerous emergency measures such as the wearing of masks, restrictions to mobility and travel and the shutdown of large parts of the economy, including firms, workplaces and schools. The implementation of...

Korea and ASEAN are currently seeing a golden age in their partnership; their trade and investment relations are strengthening rapidly, and ASEAN has become a key player in Korea's diplomacy. However, there are a number of challenges in this relationship, such as Korea's high level of reliance...

It is in Europe's interest to preserve the rules-based international order, fending off challenges to it by revisionist powers, notably China and Russia. Europe has opted to jump on the US bandwagon to preserve the rules-based order and acts as balance against China. But Europe's approach to...