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The interdependence of the Japanese economy with the world economy can be seen in Japan's balance of payments and major structural changes in the post-war years. Extremely strict foreign exchange controls were introduced after the Second World War but they have gradually been deregulated since....
Persistent link: https://www.econbiz.de/10010750283
This paper tries to explain large exchange rate swings and persistent balance of payments imbalances among major countries in the 1980s. With a simple two-country model, we illustrate that the behavior of the real exchange rate and the current account depends importantly on the degree of...
Persistent link: https://www.econbiz.de/10010750295
For risk control purposes, the foreign exchange position of banks is often divided into two: the dealing position and the structural position. This paper analyzes the reasons for such a separation and demonstrates that the claims and obligations that are treated as structural have different risk...
Persistent link: https://www.econbiz.de/10010750324