This study examines how the adoption of inflation-targeting influenced exchange rate pass-through and volatility in four Asian countries -Indonesia, South Korea, the Philippines, and Thailand - over the sample period of January 1990 to June 2007. We find that adopting inflation targeting helped...

This paper studies the effects of labor market policies on R&D activities and unemployment. I develop a search and matching model in which firms' R&D decisions are endogenously determined. The model demonstrates that more intensive labor market policies that protect workers reduce the levels of...

This paper studies whether the Mortensen and Pissarides (MP) search and matching model can explain the observed labor market fluctuations in Japan. To do this, this study first establishes a number of key facts about the cyclical properties of the Japanese labor market. Although the standard MP...