In this paper, we construct the daily nominal effective exchange rate (NEER) of the Japanese yen for eight major manufacturing industries, which provides a better indicator to reflect differences in international competitiveness across industries compared with the conventional NEER. By applying...

In considering the empirical importance of the exchange rate on exporters' price competitiveness and producer profits in specific industries, the industry-specific real effective exchange rate (REER) is far more useful than the aggregate REER published by the International Monetary Fund (IMF)...

This paper empirically analyzes the effect of exchange rate volatility on intra-Asian trade of intermediate goods at an industry level by constructing a new dataset of the industry-specific bilateral real exchange rate. As the final processed exports are destined for countries outside the Asian...

This paper constructs a new data set of the industry-specific real effective exchange rate (REER), based on the producer price indices, of the Japanese yen, Korean won, and Chinese renminbi on a daily basis from 2005 to the present in order to provide a better indicator for the international...

We estimate the equilibrium exchange rate (EER) of the Chinese renminbi (RMB) vis-a-vis the U.S. dollar from 1992 to 2008. In contrast to the recent empirical studies on the EER employing a large cross-country analysis, we focus on the supply side real factors in estimating the EER by extending...

Prime Minister Shinzo Abe's economic stimulus package, Abenomics, depreciated the yen sharply from the end of 2012, which was expected to have a positive impact on Japan's trade balance. Contrary to the J-curve effect, however, Japan's trade balance has not shown any signs of improvement, even...

The sharp depreciation of the yen from the end of 2012 was expected to have a positive impact on the Japanese trade balance, since Japan had recorded large trade deficits since the Great East Japan Earthquake in March 2011. Trade balance tends to deteriorate at the beginning due to the J-curve...

This paper focuses on recent events which include the RMB reform in China and the global financial crisis to investigate statistically recent diverging trends among East Asian currencies. For the purpose, their weighted average value (Asian Monetary Unit: AMU) and their deviations (AMU Deviation...

This paper investigates recent diverging trends among East Asian currencies as well as recent movements of the weighted average value of East Asian currencies (Asian Monetary Unit: AMU) and deviations (AMU Deviation Indicators) of the East Asian currencies from the average values. Our empirical...

This paper investigates exchange rate pass-through in Japanese automobile exports. Using customs data, we show that the exchange rate pass-through into import goods are lower in developed countries. Interviews with automobile companies were conducted by the members of RIETI's Asian currency...