This paper studies the interactions between monetary and fiscal policies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American...

This paper studies monetary and fiscal policies in the euro area. It discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the German government, and the French government. As...

This paper studies the international coordination of monetary policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary competition between Europe and America. Similarly, as...

This paper studies the interactions between monetary and fiscal policies in the euro area. The focus is on the union central bank, the German government, and the French government. The policy targets are price stability in the union, full employment in Germany, and full employment in France. The...

Asia is home to the most rapidly aging populations in the world. This study focuses on two countries in Asia that are advanced in terms of their demographic transition: the Republic of Korea and Singapore. We developed a demographic and economic state-transition microsimulation model based on...

Asia is aging, although there is significant heterogeneity across subregions and economies. Population aging poses two strategic challenges for the region: sustaining economic growth and delivering old-age economic security. In this paper, we leverage the lifecycle perspective-that individuals'...

Developing Asia has grown faster than other parts of the world for decades. However, population aging is expected to pose significant headwinds to the region’s future economic growth. We update and enhance the analysis of Park and Shin (2012) to project the impact of population aging on...