This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...

While discussing the enhancement of the connectivity between Europe and Asia, this policy paper explores a new area of cooperation, which is the use of European long-term investment funds in Asia's infrastructure. We argue that, if Asian countries agree to offer 50% of their spillover revenue to...

Since 1998, sales channels for investment trusts have expanded in Japan. We expected this to result in greater demand for investment trusts but these expectations have yet to be met. The underlying causes of investment trusts' slow growth may be due to negative net returns to individual...

To achieve the sustainable development goals (SDGs) as well as the Paris Agreement major investments in renewable energy (RE) production are necessary worldwide. In particular, decentralized, small-scale projects offer copious potential to create energy access as well as to contribute to an...

Rapid developments in financial technology (fintech) are expected to contribute to improvements in financial inclusion and well-being. This paper investigates how financial literacy and other factors contributed to the adoption of fintech services in Japan, using data from a survey conducted by...

Financial literacy is gaining increasing importance as a policy objective in many countries. However, internationally comparable information on financial literacy is still scarce. Recently, the Bank of Japan conducted a major survey of financial literacy and financial behavior covering 25,000...