Should Korea Worry About A Permanently Weak Yen
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Should Korea Worry About A Permanently Weak Yen
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Author : Mr.Jack Ree
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-16
Should Korea Worry About A Permanently Weak Yen written by Mr.Jack Ree 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 2015-07-16 with Business & Economics categories.
Three years have passed since the Bank of Japan’s asset purchase program was introduced in 2011, causing a sharp decline in the value of the Japanese Yen. What would be the implications for Japan and Korea’s exporters if the weak Yen is here to stay? We explore this question by examining exporters’ pricing behaviors and volume responses to exchange rate shocks. We find that if the weak Yen persists, it would strengthen Japan’s price competitiveness over time as export prices respond with a lag. We also find that while direct boosts to export demand will be rather limited, a persistently weaker Yen would expand the Japanese exporters’ profits lastingly, which could reinvigorate the ability, particularly of flagship exporting firms, to compete and grow in the global market over time. These findings suggest that the muted price and volume response so far to the sustained weakness of the Yen may mask a more fundamental shift in the relative competitiveness of Japanese and Korean exporters.
Should Korea Worry About A Permanently Weak Yen
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Author : Mr.Jack Ree
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-16
Should Korea Worry About A Permanently Weak Yen written by Mr.Jack Ree 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 2015-07-16 with Business & Economics categories.
Three years have passed since the Bank of Japan’s asset purchase program was introduced in 2011, causing a sharp decline in the value of the Japanese Yen. What would be the implications for Japan and Korea’s exporters if the weak Yen is here to stay? We explore this question by examining exporters’ pricing behaviors and volume responses to exchange rate shocks. We find that if the weak Yen persists, it would strengthen Japan’s price competitiveness over time as export prices respond with a lag. We also find that while direct boosts to export demand will be rather limited, a persistently weaker Yen would expand the Japanese exporters’ profits lastingly, which could reinvigorate the ability, particularly of flagship exporting firms, to compete and grow in the global market over time. These findings suggest that the muted price and volume response so far to the sustained weakness of the Yen may mask a more fundamental shift in the relative competitiveness of Japanese and Korean exporters.
Should Korea Worry About A Permanently Weak Yen
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Author : Jack Joo K. Ree
language : en
Publisher:
Release Date : 2015
Should Korea Worry About A Permanently Weak Yen written by Jack Joo K. Ree and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Electronic books categories.
Three years have passed since the Bank of Japan's asset purchase program was introduced in 2011, causing a sharp decline in the value of the Japanese Yen. What would be the implications for Japan and Korea's exporters if the weak Yen is here to stay? We explore this question by examining exporters' pricing behaviors and volume responses to exchange rate shocks. We find that if the weak Yen persists, it would strengthen Japan's price competitiveness over time as export prices respond with a lag. We also find that while direct boosts to export demand will be rather limited, a persistently weaker.
Republic Of Korea
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2015-05-22
Republic Of Korea written by International Monetary Fund. Asia and Pacific Dept 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 2015-05-22 with Business & Economics categories.
This 2015 Article IV Consultation highlights that Korea’s growth momentum that had been building since early 2013 has stalled. Average quarterly growth rate declined to about 0.5 percent in the last three quarters of 2014 from about 1 percent in the previous four quarters. A turning point was the April 2014 Sewol ferry accident, which had a surprisingly large and persistent impact on consumer and investor sentiment. Growth is projected to be in a range centered about 3 percent in 2015. The main external risks include slower-than-expected growth in Korea’s main trading partners, the impact of a persistently weak yen on Korean export industries, and side-effects from the global financial conditions.
Spillovers From Japan S Unconventional Monetary Policy To Emerging Asia
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Author : Mr.Giovanni Ganelli
language : en
Publisher: International Monetary Fund
Release Date : 2016-05-23
Spillovers From Japan S Unconventional Monetary Policy To Emerging Asia written by Mr.Giovanni Ganelli 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 2016-05-23 with Business & Economics categories.
We use a Global VAR model to study spillovers from the Bank of Japan’s quantitative and qualitative easing (QQE) on emerging Asia.1 Our main result is that, despite an appreciation of their currencies vis-à-vis the yen, the impact on emerging Asia’s GDP tended to be positive and significant. Our results suggest that the positive effect of QQE on expectations, by improving confidence, more than offset any negative exchange rate spillover due to expenditure switching from domestic demand to Japanese goods. They also suggest that spillovers from QQE might have worked mainly through the impact of expectations and improved confidence, captured by increases in equity prices, rather than through balance sheet adjustments which might have been captured by movements in the monetary base.
World Economic Outlook October 2015
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-06
World Economic Outlook October 2015 written by International Monetary Fund. Research Dept. 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 2015-10-06 with Business & Economics categories.
This issue discusses a number of factors affecting global growth, as well as growth prospects across the world’s main countries and regions. It assesses the ongoing recovery from the global financial crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including those associated with commodity prices, currency fluctuations, and financial market volatility. A special feature examines in detail causes and implications of the recent commodity price downturn; analytical chapters look at the effects of commodity windfalls on potential output and of exchange rate movements on trade.
Imf Research Bulletin September 2015
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-25
Imf Research Bulletin September 2015 written by International Monetary Fund. Research Dept. 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 2015-09-25 with Business & Economics categories.
The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are “Lower for Longer: Neutral Rates in the United States” (Andrea Pescatori and Jarkko Turunen) and “Economic Principles for Resource Revenue Management” (Anthony J. Venables and Samuel Wills). The Q&A article looks at “Seven Questions on Financing for Development” (Amadou Sy) and the global development agenda. The issue also includes special announcements on the 2015 Annual Research Conference and the 2015 IMF Annual Report, as well as new IMF publications. Readers will also find a link to a top-viewed article from the “IMF Economic Review”—the IMF’s official research journal.
Managing Complexity
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Author : Tanim Bayoumi
language : en
Publisher: Bloomsbury Publishing PLC
Release Date : 2016-01-05
Managing Complexity written by Tanim Bayoumi and has been published by Bloomsbury Publishing PLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-05 with Business & Economics categories.
A critical look at the challenges facing international policy cooperation in the new postcrisis environment. The global financial crisis of 2007–09 highlighted the economic interdependencies between all major countries, raising the issues of international cooperation. Managing Complexity: Economic Policy Cooperation after the Crisis looks at how, following the global financial crisis, countries have changed the way they cooperate with each other on matters of economic policy. In this volume, the result of a joint research project of Chatham House and the International Monetary Fund, researchers and policymakers who were directly involved in the crisis take a critical look at the challenges facing international policy cooperation in the new postcrisis environment and at how the theory and practice of cooperation have evolved as a result of the crisis.
Global Value Chains And The Exchange Rate Elasticity Of Exports
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Author : Swarnali Ahmed
language : en
Publisher: International Monetary Fund
Release Date : 2015-11-30
Global Value Chains And The Exchange Rate Elasticity Of Exports written by Swarnali Ahmed 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 2015-11-30 with Business & Economics categories.
This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real Effective Exchange Rate (REER) has decreased over time. We then examine whether the formation of supply chains has affected this elasticity using different measures of GVC integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves competitiveness of a fraction of the value of final good exports. In line with this intuition, we find evidence that GVC participation reduces the REER elasticity of manufacturing exports by 22 percent, on average.
Perspectivas De La Econom A Mundial Octubre De 2015
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Author : International Monetary Fund. Research Dept.
language : es
Publisher: International Monetary Fund
Release Date : 2015-12-30
Perspectivas De La Econom A Mundial Octubre De 2015 written by International Monetary Fund. Research Dept. 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 2015-12-30 with Business & Economics categories.
En esta edición se aborda una serie de factores que afectan el crecimiento mundial, y se examinan las perspectivas de crecimiento en los diferentes países y regiones del mundo. Se estudia la recuperación que está en curso en las economías avanzadas y de mercados emergentes tras la crisis financiera mundial y se evalúan los riesgos, tanto al alza como a la baja, incluidos los relacionados con los precios de las materias primas, las fluctuaciones cambiarias y la volatilidad del mercado financiero. En una sección especial se examinan en detalle las causas e implicaciones de la reciente desaceleración de los precios de las materias primas; en los capítulos analíticos se estudian los efectos de los ingresos extraordinarios derivados de las materias primas en el producto potencial y de los movimientos de los tipos de cambio en el comercio.