Download or read book The Japanese Yen as an International Currency written by Mr.George S. Tavlas and published by International Monetary Fund. This book was released on 1991-01-01 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Dollar and Yen written by Ronald I. McKinnon and published by MIT Press. This book was released on 1997 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book 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 published by . This book was released on 1983 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Anatomy of Sudden Yen Appreciations written by Mr.Fei Han and published by International Monetary Fund. This book was released on 2019-07-01 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Psychology Press. This book was released on 2007 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the influence of fiscal policy on exchange rates, recent development in the econometric modelling of exchange rates, and exchange rate modelling for developing countries.

Download or read book International Macroeconomics written by Robert C. Feenstra and published by Macmillan. This book was released on 2007-12-20 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: The international economy has seen much change over recent years, and there is much talk in the media of the impact of emerging markets such as India and China. Giving a new perspective on International Economics, this engaging text addresses economics with a whole-world perspective and puts emphasis on empirical study.

Download or read book Implicatoins of the Currency Crisis for Exchange Rate Arrangements in Emerging East Asia written by and published by World Bank Publications. This book was released on with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book China s Exchange Rate Regime written by China Development Research Foundation and published by Routledge. This book was released on 2014-12-05 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The imbalance between China’s currency, the RMB, and those of other countries is widely regarded as a major problem for the world economy. There was a reform of China’s exchange rate mechanism in 2005, following which the RMB appreciated 17% against the US dollar, but many people argue that further reform is still needed. This book reports on a major research project undertaken following the 2005 reform to assess the impact on China’s economy. It considers the impact in a number of areas of the economy, including export-oriented companies, the banking industry, international trade, international capital flows, and China’s macroeconomic policy. It concludes that the policies pursued so far have been correct, and that further reform, both to the exchange rate, and to the system overall, would be desirable, but that any reform should be gradual and incremental, preserving economic stability, and integrating changes with reform in other parts of the economy.

Download or read book Capital Markets and Institutions written by Linda Allen and published by John Wiley & Sons. This book was released on 1997-01-31 with total page 804 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intended for Junior/Senior/MBA course in Financial Markets, Capital Markets and Institutions. Using an international focus, this text integrates the financial markets with the activities of financial intermediaries. This approach enables students to understand the role of financial intermediaries in the development of financial markets. Throughout the text, the emphasis is on "how things are done on the street." The origins, major participants, pricing and settlements and typical transactions for all financial markets are also included.

Download or read book To Establish a Supra sovereign International Currency written by Chong Li and published by Springer Nature. This book was released on 2022-01-03 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: The research purpose of this book is to advance the reform of the existing international monetary system through the establishment of a new international currency standard that is a super-sovereign currency. International Monetary System provides international economic activities rules for the human society. It has significant influences not only on international economic activities of various countries but also on their domestic economic activities as well. Since the disintegration of International gold standard in 1971, studies on reform of international monetary system have remained as the important research themes for international economic research fields. Improvements of international monetary system to facilitate worldwide economic developments have been interests to all. Thus this book has valuable theoretical contributions. Since the collapse of Bretton Woods System, the current international monetary system of Jamaica System has come into being. Under Jamaica System, the sovereign currency US dollar has acted as the main international currency. This has caused vulnerability of money standard, instability of exchange rate system, and frequent occurrences of currency crises. Calls for international monetary system reforms have increased under these circumstances. Various programs such as improved international gold standard system, expansion of Special Drawing Rights, as well as establishment of single world currency surface. So this book has significant practical contributions as well. The major contribution of this book is the proposal of new scheme of establishment of supra-sovereign international currency. This is an entire new reform program that differs significantly from any past or current reform programs in international economic research fields from all over the world.

Download or read book Changes in Exchange Rates in Rapidly Developing Countries written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.

Download or read book The Economics of Foreign Exchange and Global Finance written by Peijie Wang and published by Springer Science & Business Media. This book was released on 2009-03-05 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is designed to integrate the theory of foreign exchange rate determi- tion and the practice of global finance in a single volume, which demonstrates how theory guides practice, and practice motivates theory, in this important area of scholarly work and commercial operation in an era when the global market has become increasingly integrated. The book presents all major subjects in international monetary theory, foreign exchange markets, international financial management and investment analysis. The book is relevant to real world problems in the sense that it provides guidance on how to solve policy issues as well as practical management tasks. This in turn helps the reader to gain an understanding of the theory and refines the framework. This new edition of the book incorporates two new chapters, together with - dating most chapters in the first edition, integrating new materials, data, and/or the recent developments in the areas. A new chapter on the portfolio balance approach to exchange rate determination is included, in addition to the major models - cluded in the first edition: the Mundell-Fleming model, the flexible price monetary model, the sticky price monetary model featured by the Dornbusch model and the real interest rate differential model. This makes the book inclusive in exchange rate theories. A second new chapter included is on issues in balance of payments or international transactions and their interactions with exchange rates, changes in exchange rates and exchange rate policies.

Download or read book Management Economics An Accelerated Approach written by William G. Forgang and published by Routledge. This book was released on 2015-03-26 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly classroom tested, this text is designed specifically for one-semester accelerated and online courses at the upper undergraduate and MBA levels. It is based on the theme that business and personal decisions are made within both micro- and macro-economic environments. By understanding the environments and their effects on outcomes of decisions, better choices can be made. The text also differs from others in the area because it is less theoretical, it provides a broader perspective for management problem solving, and it bridges economics with other business disciplines. Each chapter includes a management decision-oriented case study that applies tools of economic analysis. An online instructors manual is available to professors who adopt the text.

Download or read book Regional Strategies in a Global Economy written by René Haak and published by IUDICIUM Verlag. This book was released on 2004 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Both proponents and opponents of globalization assume it is a process that sweeps across national borders. Indeed, over the last twenty years, the key features of globalization provide prima facie evidence for this conventional wisdom. Dramatic developments in information and communications technology, the rise of global companies and production networks, the unstoppable internationalization of financial markets, and the deregulation and privatization of service sectors are all important examples of how this process unfolds in its raw form. Nevertheless, the increase in regional economic activity is another striking feature of this process. As multinational corporations extend their global reach, regional networks also emerge in the global trading system. Globalization therefore does not only mean a global convolution of economies, but could also lead to a spatial concentration of economic activity. All through the 1990s and at the beginning of the new century, East Asia experienced numerous structural changes leading to interesting market developments. South Korea’s rise to developed country status, the integration of the Southeast Asian economies, and the rise of China have made this region the manufacturing center of the global economy. Considering the economic importance of Japan and the other East Asian nations in the world, the crucial questions that arise include: What are the linkages between the global strategies of multinational corporations and their regional business operations? Why do subregional strategies emerge, especially recently to take advantage of China as a production base and market? Are the modern business practices in a multinational corporation’s home country easily transferred to their overseas operations and are they readily absorbed by local employees? Finally, which strategic directions are Japanese, American, East Asian and European enterprises going in this important business area of the world? To answer these questions, this book takes a closer look at several structural features of the East Asian economy and the corporate and business strategies of multinational corporations. The volume assembles up-to-date research by a number of European, Australian and Japanese scholars, and presents analysis of various business aspects of regional strategies in a global economy.

Download or read book The Bank of Japan the OECD and Beyond written by Kumiharu Shigehara and published by Springer Nature. This book was released on with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Derivatives Markets written by David Goldenberg and published by Routledge. This book was released on 2016-03-02 with total page 704 pages. Available in PDF, EPUB and Kindle. Book excerpt: Derivatives Markets is a thorough and well-presented textbook that offers readers an introduction to derivatives instruments, with a gentle introduction to mathematical finance, and provides a working knowledge of derivatives to a wide area of market participants. This new and accessible book provides a lucid, down-to-earth, theoretically rigorous but applied introduction to derivatives. Many insights have been discovered since the seminal work in the 1970s and the text provides a bridge to and incorporates them. It develops the skill sets needed to both understand and to intelligently use derivatives. These skill sets are developed in part by using concept checks that test the reader's understanding of the material as it is presented. The text discusses some fairly sophisticated topics not usually discussed in introductory derivatives texts. For example, real-world electronic market trading platforms such as CME’s Globex. On the theory side, a much needed and detailed discussion of what risk-neutral valuation really means in the context of the dynamics of the hedge portfolio. The text is a balanced, logical presentation of the major derivatives classes including forward and futures contracts in Part I, swaps in Part II, and options in Part III. The material is unified by providing a modern conceptual framework and exploiting the no-arbitrage relationships between the different derivatives classes. Some of the elements explained in detail in the text are: Hedging, Basis Risk, Spreading, and Spread Basis Risk Financial Futures Contracts, their Underlying Instruments, Hedging and Speculating OTC Markets and Swaps Option Strategies: Hedging and Speculating Risk-Neutral Valuation and the Binomial Option Pricing Model Equivalent Martingale Measures: The Modern Approach to Option Pricing Option Pricing in Continuous Time: from Bachelier to Black-Scholes and Beyond. Professor Goldenberg’s clear and concise explanations and end-of-chapter problems, guide the reader through the derivatives markets, developing the reader’s skill sets needed in order to incorporate and manage derivatives in a corporate or risk management setting. This textbook is for students, both undergraduate and postgraduate, as well as for those with an interest in how and why these markets work and thrive.

Download or read book International Finance written by Piet Sercu and published by Princeton University Press. This book was released on 2009-03-22 with total page 832 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on international markets and multinational corporate finance, this book is the go-to resource for students seeking a complete understanding of the field.