This study tests the stability of a standard equation for aggregate US imports over the period 1975–2011. It finds evidence of significant parameter instability, though its dating varies with the equation specification and diagnostic. Nonetheless, the analysis finds a significant rise in the...

This paper investigates the exchange rate response of Japanese export prices over the period 1980 through 2007 using sector-specific measures of the yen's value relative to invoicing currencies. It finds a significant increase in the response of total export prices to the yen in the late 1990s....