CCL, established by IMF in 1999, and intra-regional swap agreements among the ASEAN+3 countries are considered to be frameworks for foreign liquidity provision when a country experiences a liquidity crisis. It is probable that such movements would see further progress in the future, involving...

Recently, the Bank of Japan outlined a “two perspectives” approach to the conduct of monetary policy that focuses on risks to price stability over different time horizons. Interpreting this as pertaining to different frequency bands, we use band spectrum regression to study the determination...

This paper highlights relative price adjustments taking place in the global economy as important sources of the lower levels of inflation rates observed in the recent decades. Using a markup model, it shows substantial effects from declines in wage costs and import prices relative to consumer...