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 … arrangement. Seen from the foreign economic relations, it is not possible for Japan to own a key-currency independent from the U …

This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of … generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall …, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue …

determine the extent to which national currencies across the world belong to a reserve currency bloc. We then use these … BRICS' currencies. The British pound and the Japanese yen blocs appear to play minor roles …

foreign exchange interventions have, on the whole, had small but persistent effects on the yen-dollar rate. Contrary to … higher probability of success and move the yen-dollar rate by a larger margin than unilateral interventions. A probit model … indicates that both an excessive appreciation and depreciation of the yen provoke interventions, and that interventions occur in …