This paper investigates how exchange rates affect Japanese exports. This is difficult because many of Japan's exports … imported inputs from Japan. To correct for this bias we examine consumption exports. Using a panel dataset of Japan …'s consumption exports to 17 countries over the 1988-2009 period, we find that a 10% appreciation of the yen would reduce Japan …

This paper investigates how exchange rates affect Japanese exports. This is difficult because many of Japan's exports … imported inputs from Japan. To correct for this bias the authors examine consumption exports. Using a panel dataset of Japan …'s consumption exports to 17 countries over the 1988–2009 period, they found that a 10% appreciation of the yen would reduce Japan …