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"We provide a robustness check of the US Phillips curve in the frequency domain. We design frequency-specific coeffcients of correlation (FSCC) and regression (FSCR), based on our frequency-specific data extraction procedure. Being real-valued, signed and normalised, the FSCC is superior to traditional indicators such as coherence and cospectrum. Our FSCC and FSCR estimates suggest that the Phillips tradeoffs vary greatly across frequencies, with frequent sign reversals. They seem to be stable in higher frequencies, but unstable in low and medium frequencies, and they are sensitive to the level and boundaries of frequency aggregation, to the way data are processed prior to analysis (eg detrending) and to the type of variables used. In this sense, the Phillips curves are fragile. The impact of potential cross-frequency model inconsistency on model estimation using conventional time domain methods needs careful scrutiny

"We provide stylized facts on the evolving shape dynamics of the US personal income distribution from 1962 to 2000. Based on adaptive kernel density estimation, we propose an adaptive bootstrap test for multimodality. Our results indicate that multimodality has been a predominant feature of the US income distribution. Both the number and location of modes change over time, revealing rich distributional dynamics and strong heterogeneity. Decomposing the sample by age, education, gender and race, all groups exhibit multiple modes and follow distinct distributional patterns. For all groups and for the population as a whole, income distribution improved over the 1960s, 1970s and 1980s, but deteriorated dramatically in the 1990s

Since the outbreak of COVID-19, China and Japan have fought against the epidemic through high-level contacts, donation and so on. The Chinese proverb "mountains and rivers on foreign land, wind and moon under the same sky" gave warmth of friendship to the bilateral relations. However, since Yoshihide Suga won the election, the Sino-Japanese relations have taken a worsening turn. The current Prime Minister Fumio Kishida further takes counterbalancing China as top priority. The "anti-COVID-19 diplomacy" in 2020 had very limited improvement on Sino-Japanese relations. It is clear that since the implementation of the U.S. strategic competition policy against China, Japan, without hesitation, turns to the "national interest theory" and "international contribution theory" by positioning to counterbalance China. Japan has become one of the few Asian countries that have completely sided with US in the China–US strategic competition. Since the normalization of Sino-Japanese relations, the principle of "good-neighborhood" has been totally replaced by the seemingly determined approach of "counterbalance" proposed by Japanese politicians. Japan has gone beyond the issue of its neighboring areas, trying to assist the United States' strategic containment of China, which has added a new variable to China's neighboring diplomacy.

This article analyzes the change in policy discourse of the Trump administration and its destructive effects on US-China relations. It begins with a retrospective look at the China policies of two prior US administrations, those of President George W. Bush and President Barack Obama, in order to show just how significant the shift is. Following the review are analyses of the new policy discourse on China and how China has responded to it, especially in the context of the coronavirus pandemic. The last section of this article discusses a popular theme in recent academic circles: Is a new Cold War inevitable? (Asian Perspect/GIGA)