Thorbecke, Willem - In: Journal of the Japanese and International Economies 31 (2014) C, pp. 1-15
The Japanese yen in 2012 remained 25% above its value in 2007. Exports, industrial production, and stock prices crashed after 2007 and had yet to regain their pre-crash values five years later. This paper investigates the contribution of the yen appreciation to this economic disaster. Evidence...