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The role of the yen in the international financial system is reconsidered from a comparative (historical) approach. Compared with the D-Mark in the postwar years, the limited use of the yen results not so much from regulations on capital movements as from the structure and behavior of Japanese...
Persistent link: https://www.econbiz.de/10012781725
Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by … analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created. - Global …
Persistent link: https://www.econbiz.de/10003973544
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In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been ….Why did Germany switch to gold and set the train of destructive events in motion? Both a review of the contemporaneous debate …, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked …
Persistent link: https://www.econbiz.de/10012889160
Germany is an undervaluation regime, a regime that steers economic behavior towards deterioration of the real exchange …
Persistent link: https://www.econbiz.de/10012892893
Since the September 1985 Plaza Hotel announcement by the Group of Five industrial countries, a substantial realignment of exchange rates has been achieved. At the same time, foreign exchange market intervention, much of it concerted and much of it sterilized, has been undertaken on a scale not...
Persistent link: https://www.econbiz.de/10013215363
This paper explores the main channels of international transmission of economic disturbances under the Bretton Woods System and presents evidence on the short-run international transmission of inflation under that system. There appears to have been little short-run international transmission of...
Persistent link: https://www.econbiz.de/10013233746