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Dollar And Yen

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Dollar And Yen

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Author : Ronald I. McKinnon
language : en
Publisher: MIT Press
Release Date : 1997

Dollar And Yen written by Ronald I. McKinnon and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.

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.

Currency Competition And Foreign Exchange Markets

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Author : Philipp Hartmann
language : en
Publisher: Cambridge University Press
Release Date : 1998-12-10

Currency Competition And Foreign Exchange Markets written by Philipp Hartmann and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-12-10 with Business & Economics categories.

Currency Competition and Foreign Exchange Markets by Philipp Hartmann of the European Central Bank is a major theoretical and empirical study of international currencies, which focuses on the role which the Euro will play in the international monetary and financial system along with the US dollar and the Japanese yen. In contrast to much of the existing literature which approaches the subject from a macroeconomic perspective, Philipp Hartmann develops a theoretical model which uses game theory, time series and panel econometrics, and links financial markets analysis with transaction cost economics. The results of Currency Competition and Foreign Exchange Markets are presented with reference to political, historical and institutional considerations, and provide accessible answers to policy-makers, business people and scholars worldwide. The sections on Spread Estimation and Multiple Vehicles with Inter-Dealer Price and Entry Competition will be of particular use for finance professionals.

Report On Yen Dollar Exchange Rate Issues

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Author : Japanese Ministry of Finance-U.S. Dept. of the Treasury Working Group
language : en
Publisher:
Release Date : 1984

Report On Yen Dollar Exchange Rate Issues written by Japanese Ministry of Finance-U.S. Dept. of the Treasury Working Group and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Foreign exchange categories.

The Yen Dollar Agreement Liberalizing Japanese Capital Markets

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Author : Jeffrey A. Frankel
language : en
Publisher:
Release Date : 1984

The Yen Dollar Agreement Liberalizing Japanese Capital Markets written by Jeffrey A. Frankel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Banks and banking, American categories.

Current Exchange Rate Relationship Of The U S Dollar And The Japanese Yen

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Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Trade
language : en
Publisher:
Release Date : 1983

Current Exchange Rate Relationship Of The U S Dollar And The Japanese Yen written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Trade and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Dollar, American categories.

Anatomy Of Sudden Yen Appreciations

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Author : Mr.Fei Han
language : en
Publisher: International Monetary Fund
Release Date : 2019-07-01

Anatomy Of Sudden Yen Appreciations written by Mr.Fei Han and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-01 with Business & Economics categories.

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.