This paper discusses Korea's post-crisis monetary policy, focusing on two questions: (i) whether the high interest rate policy right after the outbreak of crisis was effective on exchange rate stabilization and (ii) whether the post-crisis interest rate policy can be justified in light of the...

This paper studies the effects of the United States' (US) quantitative easing on Asia by examining capital flows and financial markets. After the global financial crisis, Asian economies with more open and developed capital markets experienced greater swings in capital inflows. In particular,...

This paper argues that the Republic of Korea (hereafter Korea) is not immune to global crises, but that a more than proportional response of gross domestic product to global crises does not seem to be the general case either. Along this line of reasoning, Korea's extreme response to the current...