an empirical study of the yen/dollar exchange rate
... quasi-moments such as interquantile ranges to describe the state of market conditions on a particular day. If we consider the yen/dollar exchange rate, the mean of the PDF is the traders’ average expectation of the yen/dollar rate one month ahead, i.e. the one-month forward rate. The second moment ...
... quasi-moments such as interquantile ranges to describe the state of market conditions on a particular day. If we consider the yen/dollar exchange rate, the mean of the PDF is the traders’ average expectation of the yen/dollar rate one month ahead, i.e. the one-month forward rate. The second moment ...
PDF/322KB
... (1) Outline of operations results for the year ended March 31, 2015 Looking at the global economic situation for the year ended March 31, 2015, in Western Europe, the U.K. economy remained solid, while economic growth slowed in the eurozone. The Russian economy faced a tougher situation due to soure ...
... (1) Outline of operations results for the year ended March 31, 2015 Looking at the global economic situation for the year ended March 31, 2015, in Western Europe, the U.K. economy remained solid, while economic growth slowed in the eurozone. The Russian economy faced a tougher situation due to soure ...
Time of Troubles: The Yen and Japan`s Economy, 1985
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
Time of Troubles: The Yen and Japan`s Economy, 1985-2008
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
NBER WORKING PAPER SERIES TIME OF TROUBLES: Maurice Obstfeld
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
Time of Troubles: The Yen and Japan`s Economy, 1985
... of shares and real estate. This “bubble economy” was followed by a collapse in asset values, a reduced pace of real economic growth, banking problems, and deflation. Nearly two decades after the demise of the bubble economy, the prognosis for Japanese growth remains uncertain amid a turbulent global ...
... of shares and real estate. This “bubble economy” was followed by a collapse in asset values, a reduced pace of real economic growth, banking problems, and deflation. Nearly two decades after the demise of the bubble economy, the prognosis for Japanese growth remains uncertain amid a turbulent global ...
CHAPTER 12—EXCHANGE-RATE DETERMINATION MULTIPLE
... © 2011 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. ...
... © 2011 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. ...
Chapter 20
... commonly obtained short-term financing from local banks prior to the Asian crisis. Explain why the firm may not be able to easily obtain funds from the local banks since the crisis. ANSWER: The foreign subsidiary may find that the local banks do not have adequate funding from depositors any more to ...
... commonly obtained short-term financing from local banks prior to the Asian crisis. Explain why the firm may not be able to easily obtain funds from the local banks since the crisis. ANSWER: The foreign subsidiary may find that the local banks do not have adequate funding from depositors any more to ...
A Three-State Markov-Modulated Switching Model for Exchange Rates
... swings hypothesis. Second, it has been shown that government policies affect exchange rate movements. Kaminsky [6], for instance, reported that a change in monetary policy regimes affects the exchange rate depreciation, resulting in long swings. Consequently, information on the existence of long swi ...
... swings hypothesis. Second, it has been shown that government policies affect exchange rate movements. Kaminsky [6], for instance, reported that a change in monetary policy regimes affects the exchange rate depreciation, resulting in long swings. Consequently, information on the existence of long swi ...
The Japanese yen as an international currency*
... the forces of inertia generated by the convenience of the US dollar as an international currency. On the other hand, it has been pointed out that this situation has allowed the United States to adopt an economic policy of “benign neglect” toward foreign exchange markets. However, the United States c ...
... the forces of inertia generated by the convenience of the US dollar as an international currency. On the other hand, it has been pointed out that this situation has allowed the United States to adopt an economic policy of “benign neglect” toward foreign exchange markets. However, the United States c ...
The Yen and the Japanese Economy, 2004
... Other kinds of downside risk, originating abroad, also would affect the Japanese economy. Higher oil prices are an obvious downside risk for oilimporting Japan. However, the oil-import expenditures are small relative to Japanese exports, so moderately higher oil prices would hardly make a dent in th ...
... Other kinds of downside risk, originating abroad, also would affect the Japanese economy. Higher oil prices are an obvious downside risk for oilimporting Japan. However, the oil-import expenditures are small relative to Japanese exports, so moderately higher oil prices would hardly make a dent in th ...
The Yen and Its East Asian Neighbors 1980
... that the rupiah and the peso are both managed tightly in terms of their U.S. dollar exchange rates over a short time horizon, while they have shown significant trend depreciation over a longer horizon (table 7.2); their exchange rate systems may more appropriately be classified as crawling pegs to t ...
... that the rupiah and the peso are both managed tightly in terms of their U.S. dollar exchange rates over a short time horizon, while they have shown significant trend depreciation over a longer horizon (table 7.2); their exchange rate systems may more appropriately be classified as crawling pegs to t ...
The Yen - CiteSeerX
... It became clear to market participants in May, that the yen was traded in the narrow range between 117 and 120. Interventions were conducted when the yen/dollar rate approached 116, but when the yen depreciated toward 119, the interventions were withdrawn. This appeared to be a narrow target zone. F ...
... It became clear to market participants in May, that the yen was traded in the narrow range between 117 and 120. Interventions were conducted when the yen/dollar rate approached 116, but when the yen depreciated toward 119, the interventions were withdrawn. This appeared to be a narrow target zone. F ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... But airport newsstands sport plenty of downscale versions of how Japan Inc. was conspiring to undermine the American economy through collusive trading practices. Although in the 1990s Japan has liberalized many of its more restrictive regulatory barriers to foreigners selling in the Japanese market- ...
... But airport newsstands sport plenty of downscale versions of how Japan Inc. was conspiring to undermine the American economy through collusive trading practices. Although in the 1990s Japan has liberalized many of its more restrictive regulatory barriers to foreigners selling in the Japanese market- ...
Expanding Beyond Borders: The Yen and the Yuan
... franc, fit the definition of an international currency, but they have different roles in the international monetary system, and these roles define each currency’s scope. The dollar is the key global currency, as its use in denominating international transactions, settling international payments, and ...
... franc, fit the definition of an international currency, but they have different roles in the international monetary system, and these roles define each currency’s scope. The dollar is the key global currency, as its use in denominating international transactions, settling international payments, and ...
Expanding Beyond Borders: The Yen and the Yuan
... franc, fit the definition of an international currency, but they have different roles in the international monetary system, and these roles define each currency’s scope. The dollar is the key global currency, as its use in denominating international transactions, settling international payments, and ...
... franc, fit the definition of an international currency, but they have different roles in the international monetary system, and these roles define each currency’s scope. The dollar is the key global currency, as its use in denominating international transactions, settling international payments, and ...
Paper - Gerald R. Ford School of Public Policy
... brighter for many of the industries at end-2003, compared to a year ago. In retrospect, the Japanese economy was making a strong recovery, in terms of growth rate, in the fourth quarter of 2003 and the first quarter of 2004—7.6% and 6.4%, respectively—but that information was not available in real t ...
... brighter for many of the industries at end-2003, compared to a year ago. In retrospect, the Japanese economy was making a strong recovery, in terms of growth rate, in the fourth quarter of 2003 and the first quarter of 2004—7.6% and 6.4%, respectively—but that information was not available in real t ...
THE INTERNATIONALISATION OF THE YEN: ESSENTIAL ISSUES
... to have bottomed out. The yen will play a crucial role in future exchange rate systems, be they individual or collective. The Japanese government has been promoting the internationalisation of the yen over the past two years by taking measures to make yen markets more attractive to international eco ...
... to have bottomed out. The yen will play a crucial role in future exchange rate systems, be they individual or collective. The Japanese government has been promoting the internationalisation of the yen over the past two years by taking measures to make yen markets more attractive to international eco ...
Chakriya Bowman Economies
... Japanese management techniques to Japanese fashion design became the subject of focus for the OECD economies, it is natural that economists and finance academics likewise focused on Japan, particularly the increasing role of Japan in the Asian region and beyond. As Japan became a dominant economy, i ...
... Japanese management techniques to Japanese fashion design became the subject of focus for the OECD economies, it is natural that economists and finance academics likewise focused on Japan, particularly the increasing role of Japan in the Asian region and beyond. As Japan became a dominant economy, i ...
here - Canvas
... 20. If Americans increase their investments in Europe, then the supply of dollars in European banks will (incr/decr) & the dollar will (apprec/deprec). 21. If Europeans quadrupled their investments in the U.S. stock market, the supply of euros in U.S. banks would (incr/decr) & the dollar would (app ...
... 20. If Americans increase their investments in Europe, then the supply of dollars in European banks will (incr/decr) & the dollar will (apprec/deprec). 21. If Europeans quadrupled their investments in the U.S. stock market, the supply of euros in U.S. banks would (incr/decr) & the dollar would (app ...
the long-run behavior of the yen and the dollar
... including the relative prices of nontradables in an export price index is a task that official agencies have not tackled. The IMF, however, has estimated several alternative price indexes to deflate exchange rates. The one favored by most experts is based on unit labor costs in manufacturing, partly ...
... including the relative prices of nontradables in an export price index is a task that official agencies have not tackled. The IMF, however, has estimated several alternative price indexes to deflate exchange rates. The one favored by most experts is based on unit labor costs in manufacturing, partly ...
Japan`s Deflationary Hangover: Wage Stagnation and the Syndrome
... rates and failing to stimulate consumer demand. We believe that the weak yen is a reflection of Japanese government policy. It reflects the Japanese government’s massive intervention earlier in the decade, an intervention which still reverberates in the value of its currency”. On March 30, the Finan ...
... rates and failing to stimulate consumer demand. We believe that the weak yen is a reflection of Japanese government policy. It reflects the Japanese government’s massive intervention earlier in the decade, an intervention which still reverberates in the value of its currency”. On March 30, the Finan ...
Weak economy and strong currency: The origins of the strong yen in
... The Japanese yen, which had been appreciating steadily since the breakdown of the Bretton Woods System, was regarded as a symbol of Japan’s economic success. While the dollar was traded for 360 yen in the early 1970’s, at the end of 1988 the rate had reached a value of 126 yen per dollar. The endaka ...
... The Japanese yen, which had been appreciating steadily since the breakdown of the Bretton Woods System, was regarded as a symbol of Japan’s economic success. While the dollar was traded for 360 yen in the early 1970’s, at the end of 1988 the rate had reached a value of 126 yen per dollar. The endaka ...
The Yen Exchange Rate and Net Foreign Assets
... reflecting the booming economy and the appreciation of the yen. It declined in the 1990s, particularly in the later years, owing to persistent economic weakness. The terms of trade improved sharply during 1985-86, in part reflecting the yen appreciation against the US dollar following the Plaza Agre ...
... reflecting the booming economy and the appreciation of the yen. It declined in the 1990s, particularly in the later years, owing to persistent economic weakness. The terms of trade improved sharply during 1985-86, in part reflecting the yen appreciation against the US dollar following the Plaza Agre ...
Japanese yen
The Japanese yen (円 or 圓, en, symbol: ¥; code: JPY) is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro, and the pound sterling.