Korea Development Institute School of Public Policy and Management (KDI School) is delighted to invite professors, policy makers, and experts to submit papers under the theme of Inflation and Deflation in Asia. KDI School welcomes submission of high-quality original research papers. Selected papers will be presented during the Conference, which will be held on April 29, 2022 in Korea and online. The conference will be organized in collaboration with the East Asia Institute of the Ludwigshafen University of Business and Society in Germany. 

Outline of the Conference:

Ever since the financial crisis of 2008/2009 the world’s leading economies have been struggling with deflationary tendencies. Inflation on the other hand, even in the face of unprecedented monetary easing by central banks, appeared like an “extinct volcano”. This gave even rise to an alternative branch of economic thought called “New Monetary Theory”, which claims that monetary stability can be maintained, even if high and further increasing public debt is routinely supported by monetary easing.

Recently, however, the possibility of a return of inflation has come into focus. One driver is the COVID-19 pandemic, which causes supply side restrictions on the one hand side and pent-up demand on the other. Furthermore researchers like Charles Goodhart and Manoj Pradhan have pointed out that trends in demographic development and a less free environment in global trade also support inflationary pressures. A return of sustained inflation would certainly be a “game changer” in international economic policy, as central banks would be unable to fight the trend and still continue to support public debt sustainability by government bond buying programs.

Countries in Asia have their own distinctive experience with the issue of inflation and deflation. Japan for example is struggling with deflation ever since the 1990s with no imminent change in sight, whereas China, Korea and the ASEAN countries have often faced the need to arrest inflationary pressures during their development. General price-stability issues in Asia may furthermore arise from the fact that many countries in the region have pegged their currency against the US Dollar or a basket of other currencies. Focusses on a certain country in the region are welcome as well as comparative perspectives.

Submission Details:

All papers must be written and presented in English. Original complete papers should be submitted to the conference organizer (Ms. Dabin Song) through email dabinsong@kdis.ac.kr by March 18, 2022. Papers selected for presentation will be notified based on committee decision before March 31, 2022. The criteria for selecting papers are relevance with regards to the conference themes and the academic quality of the research. Maximum of ten authors will be selected, and those who present the paper and discuss an assigned paper at the online conference will be awarded with an honorarium of USD 1,500. After the Conference, selected papers will be invited to a book publication by Springer. It is optional whether you wish to accept this invitation to the book chapter contribution.

When submitting an abstract and a manuscript, please email the following information as well: 
- First and last name / Institutional affiliation / Position
- Email address / Phone number (incl. country code) 
- Names and affiliation of coauthors (if applicable)

Important Dates:
Complete Paper Submission Deadline: March 18, 2022
Result Notification date of Submitted Papers: March 31, 2022
Date of the Event: April 29, 2022 (Online)