This paper analyzes mainly three issues regarding IMF functions: (1) IMF Financilg systems, (2) Changes in IMF conditionality since the East Asian crisis of 1997-98 and in the midst of the recent global financial crisis, and (3) IMF lending ability. In particular, this paper describes how the...

This paper focuses on the economic foreign policies explored by major organizations and countries at G20 Financial Summit held in London on April 2, 2009. This is the 2nd summit after the first meeting in November 2008. The presence of G20 over G8 has strengthened increasingly as a major...

This paper takes an overview over the historical paths toward the Economic and Currency Union launched in EU in the post-WWII era. Namely, it covers Snakes, European Monetary System, and establishment of the Economic and Currency Union. Moreover, the paper analyzes the uniform monetary policy...

This paper examines the performance of inflation targeting (IT) focusing on East Asian emerging market economies, by estimating policy reaction functions for verifying the linkage between IT adoption and monetary policy, and also estimating impulse responses of prices to policy shock. Our...

The Bank of Japan adopted the Quantitative Easing (QE) Policy from March 2001 to March 2006. This paper investigates whether or not this QE had an effect in stimulating real economy in Japan. The identification of policy effect in the above Japanese case enables us to evaluate indirectly the...