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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...
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This paper takes stock of the evolution of the international monetary system over the last thousand years. Several points stand out from the analysis. One is the reluctance of governments to embrace radical changes in international monetary relations. Another is the conflict between external and...
Persistent link: https://www.econbiz.de/10014399905
, the U.S. real interest rate and real exchange rate, U.S. GDP growth, and world commodity prices) that explain much of the …
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a world economy that was characterized by widespread restrictions on international capital mobility. In contrast, the …
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contributions to global trade growth have come from East Asian countries in the developing world and the Euro area in the developed … world. Merchandise trade, which in recent years has been less resilient than services trade, picked up, growing by 4 …
Persistent link: https://www.econbiz.de/10012645268