The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable … Japan's efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at … underlying drivers of rapid yen appreciations, highlighting the key role of carry-trade and the zero lower bound as important …

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 …

movement in nominal exchange rate by studying the behavior of yen/DM exchange rate, using cointegration method. Results support … auto-regressive property. These findings imply that movements in the nominal yen/DM exchange rate is actually predictable …

, institutional, political and social underpinnings to uncover the 'missing' determinants of exchange rate volatility over time and … volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the 'soft … volatility across countries …

volatility in determining a firm's debt currency composition, among other channels. Furthermore, the effect of exchange rate … volatility becomes statistically insignificant beyond an estimated threshold credit-to-GDP ratio of 100 percent …

evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an …

This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the … very disaggregated goods (e.g., light bulbs) in 83 cities around the world during 1990-2000. We find that the impact of an …

nominal exchange rate volatility are investigated for 48 countries. Estimation of panel data models indicates that nominal … exchange rate volatility decreases following dissemination of reserves template data while the effects of indebtedness and … reserve adequacy on volatility exhibit statistically significant changes …

This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging … introduced in the regressions to account for other factors affecting exchange rate volatility (monetary and external indicators … exchange rate regime, since the regime can affect both the level of reserves and exchange rate volatility. The results provide …