the yen over the past 25 years -- Theories blaming the high yen for Japan's economic doldrums -- Japan's manufacturing and … -- Structural stagnation -- The labor market in the "ice age." Japan's rising unemployment rate -- The mismatch in labor market … -- Structural reform -- The future. Has Japan's potential growth rate actually declined? -- Demand and economic growth -- Japan …

, and the United States, and with unemployment rate changes in Japan, for the period 19502005. In recent years, the …

intraday JPY/USD exchange rate responses to a broad set of comparable news surprises from both the U.S. and Japan. We show that … news surprises from Japan are as influential as those from the U.S. in moving 5-minute JPY/USD exchange rate returns and …