Japanese exporters' choice of invoice currencies is investigated using newly available official Customs declaration data, which records detailed information, including the trading partners' names, invoicing currency, and product descriptions. The strategic complementarity mechanism, that is,...

This study empirically investigates how the invoice currency choice differs between intra-firm and arm's-length exports. We also examine whether other firm- and product-level characteristics affect the choice of invoice currency. This study is the first to be granted access to highly...

In recent years the Bank of Canada has made important changes in the way it conducts monetary policy. In particular, the bank has adopted explicit inflation targets and introduced significant changes to its operational framework designed to increase transparency and reduce market uncertainty....

This paper examines the impact of changes in margin requirements on returns, transaction volumes, and price volatility of Nikkei 225 futures on the Osaka Securities Exchange (OSE) and the Singapore International Monetary Exchange (SIMEX). An increase in margin requirement on one exchange is...