Current Exchange Rate Relationship of the U.S. Dollar and the Japanese Yen

Current Exchange Rate Relationship of the U.S. Dollar and the Japanese Yen
Title Current Exchange Rate Relationship of the U.S. Dollar and the Japanese Yen PDF eBook
Author United States. Congress. House. Committee on Ways and Means. Subcommittee on Trade
Publisher
Pages 192
Release 1983
Genre Dollar, American
ISBN

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The Japanese Yen as an International Currency

The Japanese Yen as an International Currency
Title The Japanese Yen as an International Currency PDF eBook
Author Mr.George S. Tavlas
Publisher International Monetary Fund
Pages 61
Release 1991-01-01
Genre Business & Economics
ISBN 1451930992

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The role of the Japanese yen as an international currency is assessed. It is found that the determinants of international-currency use imply some increase for the yen’s use in international finance; however, the implications for the yen’s use in international trade are mixed. It is also shown that, despite Japan’s emergence as the world’s largest net creditor nation, Japan’s capital outflows have not significantly facilitated the yen’s internationalization. Data are presented showing that, although the yen’s use as an international currency has increased, it is still rather modest. Wider use of the yen as a regional currency in Asia has occurred, though a “yen-zone” does not appear to be emerging.

Dollar and Yen

Dollar and Yen
Title Dollar and Yen PDF eBook
Author Ronald I. McKinnon
Publisher MIT Press
Pages 288
Release 1997
Genre Business & Economics
ISBN 9780262133357

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Dollar and Yen analyzes the friction between the United States and Japan from the viewpoint of exchange rate economics. From the mid-1950s to the early 1990s, Japan grew faster than any other major industrial economy, displacing the United States in dominance of worldwide manufacturing markets. In the 1970s and 1980s, many books appeared linking the apparent decline of the United States in the world economy to unfair Japanese practices that closed the Japanese market to a wide range of foreign goods. Dollar and Yen analyzes the friction between the United States and Japan from the viewpoint of exchange rate economics. The authors argue against the prevailing view that the trade imbalance should be corrected by dollar depreciation, saying that adjustment through the exchange rate is both ineffective and costly. Stepping outside the traditional dichotomy between international trade and international finance, they link the yen's tremendous appreciation from 1971 to mid-1995 to mercantile pressure from the United States arising from trade tensions between the two countries. Although sometimes resisted by the Bank of Japan, this yen appreciation nevertheless forced unwanted deflation on the Japanese economy after 1985--resulting in two major recessions (endaka fukyos). The authors argue for relaxing commercial tensions between the two countries, and for limiting future economic downturns, by combining a commercial compact for mutual trade liberalization with a monetary accord for stabilizing the yen-dollar exchange rate.

Anatomy of Sudden Yen Appreciations

Anatomy of Sudden Yen Appreciations
Title Anatomy of Sudden Yen Appreciations PDF eBook
Author Mr.Fei Han
Publisher International Monetary Fund
Pages 19
Release 2019-07-01
Genre Business & Economics
ISBN 1498325394

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The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and upward pressure on domestic consumer prices. On the other hand, large and sharp appreciations run the risk of lowering actual and expected inflation, squeezing corporate profits, generating a negative wealth effect through depressed equity prices, and reducing confidence in the Bank of Japan’s efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at underlying drivers of rapid yen appreciations, highlighting the key role of carry-trade and the zero lower bound as important amplifiers.

Floating Exchange Rates in an Interdependent World

Floating Exchange Rates in an Interdependent World
Title Floating Exchange Rates in an Interdependent World PDF eBook
Author United States. General Accounting Office
Publisher
Pages 92
Release 1984
Genre Foreign exchange
ISBN

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The United States in a Changing World Economy

The United States in a Changing World Economy
Title The United States in a Changing World Economy PDF eBook
Author
Publisher
Pages 72
Release 1983
Genre United States
ISBN

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Congressional foresight, history, recent experiences, and implementation strategies

Congressional foresight, history, recent experiences, and implementation strategies
Title Congressional foresight, history, recent experiences, and implementation strategies PDF eBook
Author
Publisher
Pages 72
Release 1983
Genre Competition, International
ISBN

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