enabling Korea to continue to converge to income levels of the United States. …

States and the quantitative and qualitative easing (QQME) of Japan. Korea is an intriguing case due to its borderline … position between advanced and emerging market country groups, and the common perception that Korea competes fiercely with Japan … in the world market for trade. We find that QE had little direct impact on capital flows to Korea, and tapering is …

Going forward, Korea faces two closely related challenges: sustaining economic growth against the backdrop of a rapidly … promote more sustainable and inclusive growth in Korea. In particular, simulation results suggest that social spending which …—there is still a social spending gap relative to Korea’s OECD peers. Because of several fiscal challenges in the coming decades …

Korea was hit hard by the 2008 global financial crisis, with the foreign bank deleveraging channel coming prominently … 2008. Impulse responses from a Dynamic Stochastic General Equilibrium (DSGE) model calibrated to Korea shows that it … appears better prepared to handle such shocks relative to 2008. Indeed, Korea is much more resilient to such shocks due to the …