We show that macroprudential regulation can considerably dampen the impact of global
financial shocks on emerging markets. More specifically, a tighter level of regulation reduces …

Early evidence on the pandemic’s effects pointed to women’s employment falling
disproportionately, leading observers to call a “she-cession.” This paper documents the extent and …

Supply constraints hurt the economic recovery and boosted inflation in 2021. We find that in
the euro area, manufacturing output and GDP would have been about 6 and 2 percent …

We evaluate the impact of fiscal reforms on growth and inequality in Cambodia using a
calibrated general equilibrium model with heterogeneous agents (Peralta-Alva et al., 2018). Over …

Using individual-level data for 30 European countries between 1983 and 2019, we document
the extent and earning consequences of workers’ reallocation across occupations and …

Inequality is increasingly a concern. Fiscal and structural policies are well-understood
mitigators. However, less is known about the potential role of monetary policy. This paper …

Koreas cross border capital flows have tended to respond negatively in global risk-off episodes,
resulting in volatility in the foreign exchange market and occasional policy responses in …

How did expectations of the outcome of the United Kingdom's (UK) referendum on European
Union (EU) membership in 2016 affect prices in financial markets? We study this using high …

Output gap estimates are widely used to inform macroeconomic policy decisions, including
in Korea. The main determinant of these estimates is the measure of labor market slack. The …

A stable relationship between monetary policy rates and bank lending and deposit rates faced
by consumers and companies is essential for the effective transmission of monetary policy …