ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
Established in 1966, it is owned by 68 members—49 from the region.
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ADB supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
Hiroaki Miyamoto
Asian Development Bank Institute (ADBI)
Author
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Public Debt Stability in the People’s Republic of China: Rethinking the Domar Condition and Its Bond Market Application
This paper extends the supply side argument of the Domar model for fiscal sustainability and examines the case of the bond market in People’s Republic of China.
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Revisiting the Public Debt Stability Condition: Rethinking the Domar Condition
Public debt sustainability depends on interest rate sensitivity to changes in government bond supply and demand.
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How Does Population Aging Affect the Effectiveness of Monetary and Fiscal Policies?
Population aging diminishes the effectiveness of monetary policy and weakens the fiscal stimulus.
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Decreased Effectiveness of Fiscal and Monetary Policies in Japan’s Aging Society
As retirees make up more and more of the population, fiscal and monetary policies become less effective.
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The Effectiveness of Japan’s Negative Interest Rate Policy
Structural reform, not monetary policy, is key to lifting Japan out of long-term recession.