We empirically investigate the relationship between the Japanese general collateral (GC) repurchase agreement (repo) and uncollateralized call rates before, during, and emerging from the recent financial crisis. Unlike the US and many other countries, the Japanese GC repo rate has been higher...

Russia's war in Ukraine has exacerbated food insecurity that had already been on the rise for half a decade. Low-income countries are affected the most. This note suggests that the food and fertilizer price shock would add $9 billion in 2022 and 2023 to the import bills of the 48 most affected...

In this paper, we calculate the potential output and the output gap using a Bayesian-estimated DSGE model of Japan's economy. The model is a two-sector growth model that takes into account growth rate shocks including investment-goods sector-specific technological progress. For bridging the gap...