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A two-country theoretical model is presented, showing the effects of monetary, fiscal, and supply-side disturbances on prices of primary commodities and manufactured goods, and on exchange rates. If monetary shocks dominate, then commodity prices should lead general price movements, and the...
Persistent link: https://www.econbiz.de/10014395776
The parameters of a conventional model of Japan’s current account were found to be stable in the period of the steeply … rising yen between the fourth quarter of 1985 and the end of 1987. This suggests that Japan’s current account has been … that the rise in the yen has already made a substantial contribution to correcting Japan’s external imbalance …
Persistent link: https://www.econbiz.de/10014395784
manufacturers is compared. Major export industries in Japan have higher productivity growth and lower pass-through coefficients than …
Persistent link: https://www.econbiz.de/10014395791
This paper discusses recent empirical research on the interplay between fiscal policies and external imbalances in the G3 countries, focusing on the stock-flow dynamics of public and foreign deficits and debt accumulation
Persistent link: https://www.econbiz.de/10014395805
This paper presents estimates of a demand function for broad money in Japan. The function explains both secular trends …
Persistent link: https://www.econbiz.de/10014395815
The changes to the structure of Japanese exports and imports in the second half of the 1980s departed significantly from past trends. Econometric analysis confirms that some of the structural changes—notably the importance of consumer goods trade—cannot be fully explained using conventional...
Persistent link: https://www.econbiz.de/10014395910
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...
Persistent link: https://www.econbiz.de/10014395916
, and the United States than in Germany and Japan. It is argued that the differences in the linkage between the interest …
Persistent link: https://www.econbiz.de/10014395917
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395948
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395987