This paper reaches seven conclusions regarding the Yen Bloc that Japan is reputed to be forming in Pacific Asia. (1 … is no evidence of a special Japan effect. (3) Once one properly accounts for rapid growth in Asia, the statistics do not … Asian countries, though overall its influence is as yet no greater than that of New York. (6) Some of Japan's financial and …

whether changes in the interest rate are due to changes in the expected inflation rate or the real interest rate …

. In the other country, say Europe, the exchange rate change worsens inflation.This paper starts from the premise that … to a more contractionary monetary policy in order to fight inflation. Given the U.S. contraction, it might be desirable … aggregate output and inflation.This conclusion follows from the assumption that in each of two sectors,nontraded goods or …

target growth rate. The expected future inflation rate rises,which is reflected in a higher nominal Interest rate.This paper … explanation,expected inflation, one would expect it to depreciate. We render these claims more concrete by a formal model, a …

that arise from currency mismatch. The exchange rate was the favored nominal anchor for monetary policy in inflation … stabilizations of the late 1980s and early 1990s. After the currency crises of 1994-2001, the conventional wisdom anointed Inflation …