recipients if governance is measured by the World Bank?s CPIA. If the CPIA is replaced by the Kaufmann index, however, the policy …

slower than would have been predicted by a simple econometric model, if Japanese trade. We then explore several possible … Japanese export prices than in the past, and the slow pass-through of terms-of-trade gains to consumer prices. Evidence is also … presented that Japanese exporters adjust prices asymmetrically in response to yen depreciations and appreciations. ; Next, we …