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