Japan can meet domestic and international challenges to its aid policies by developing a coherent national strategy for official development assistance, broadly designed to enhance partnership, effectiveness, accountability, and transparency

A coordinated action by East Asian countries to stabilize their currencies against a common basket of major currencies (broadly representative of their average structure of trade and foreign direct investment) would help stabilize both intraregional exchange rates and effective exchange rates,...

This volume book brings together nine background papers prepared for an evaluation by the IMF Independent Evaluation Office of 'the IMF and the crises in Greece, Ireland, and Portugal.' It presents an authoritative work on the evolving relationship between the IMF and the euro area, a common...

This book makes concrete macroeconomic policy recommendations for Asian economies aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas...

By looking at how an East Asian currency moves when the yen fluctuates sharply against the US dollar, we sometimes find that the reaction has been much more significant than would be suggested by the econometric estimates of the weight of the yen in nominal exchange rate determination. Moreover,...

Data from Okinawa's monetary union with the United States in 1958 and with Japan in 1972 are used to obtain a quantitative indication of how monetary union might affect the behavior of nominal and real shocks across two economies. With monetary union, the variance of the real exchange rate...