Belke, Ansgar; Volz, Ulrich - In: Open Economies Review 31 (2020) 2, pp. 371-406
Since the demise of the Bretton Woods system, the yen has seen several episodes of strong appreciation, including in … been associated with “expensive yen recessions” resulting from negative effects on exports; since the late 1980s, the … strong yen has also raised concerns about a de-industrialisation of the Japanese economy. Against this backdrop, the article …