This paper studies determinants of the decision to invest abroad. Among them, we follow the current mainstream theory of foreign direct investment so as to emphasize the stock of technological knowledge. We explicitly solve the optimal geographical composition (i.e. domestic vs. abroad) of the...

In economics, an international currency is a currency that plays a major role in the settlement of international economic transactions of goods/services and monetary transactions. This international currency is often called a key currency. Today, the dollar is a key currency located at the...

The Bank of Japan was established as a central bank and a monopolist issuer of bank notes according to the Bank of Japan Act enacted in 1882. At that time, hyperinflation raged, along with the 1877 Civil War (Southwest Rebellion), as the Meiji government had issued large amounts of inconvertible...

This paper studies determinants of the decision to invest abroad. Among them, we follow the current mainstream theory of foreign direct investment so as to emphasize the stock of technological knowledge. We explicitly solve the optimal geographical composition(i.e. domestic vs. abroad) of the...