We examine the impact of the marginal commodity tax reforms in Japan and Korea, using data from the official household surveys of the two countries. Based on the estimations of two demand systems (linear expenditure system (LES) and almost ideal demand system(AIDS)), we compare the marginal...

This paper estimates a simple small open macroeconomic model to analyse the effectiveness of monetary policy rules (MPRs) where either the nominal interest rate or the nominal exchange rate is the policy instrument. The aim is to ascertain which of those MPRs are best suited for a selection of...

There is renewed interest in monetary cooperation in Asia. To the extent that such cooperation evolves to include discussions about co-ordination of exchange rate policies it is important to evaluate the desirability of such co-ordination. Such an evaluation involves in part an assessment of the...

This paper adopts a four-equation New Keynesian model to evaluate the appropriateness of China's monetary policy framework. Our simulation results show that a hybrid rule that uses both interest rate and quantity of money as instruments outperforms the rules using one instrument alone at the...

Previous studies that have investigated the impact of real depreciation of the Thai baht on Thailand's trade flows have either used aggregate trade data between Thailand and the rest of the world, or between Thailand and its major trading partners. These studies have provided mixed results. In...

Using the 2004 and 2006 pooling data from the China Health and Nutrition Survey (CHNS) questionnaire, this paper studies the differences between male and female employment in urban China, taking into account the interdependence between the decision of women to participate in the workforce and...

This paper aims to pursue an empirical model of Japan's markup and inflation using historical time series data covering the last quarter of the 20th century. A multivariate cointegration analysis of Japan's macroeconomic data indicates the existence of a long-run economic linkage, which is...

Since the mid-1980s Bangladesh has implemented a loose form of monetary targeting under two exchange-rate régimes: a pegged system until May 2003 and a 'managed floating' exchange-rate system. Under both régimes, broad money has been used as an intermediate target to maintain price stability,...