The purpose of this paper is to investigate the choice of invoice currency under exchange rate uncertainty. The analysis is motivated by the fact that the U.S. dollar has been the dominant vehicle currency in developing countries. The theoretical analysis is based on an open economy model of...

Since the onset of the Asian crisis, what characterizes the East Asian exchange rates has been a topic of considerable discussion. In the pre-crisis period, the de facto pegs to the U.S. dollar sometimes destabilized the real "effective" exchange rates of these currencies. Several economists...

This paper classifies 175 countries over a period of just 30 years according to the balance of payments stages that are frequently used in proposing a hypothesis that the stage depends on the progression in a nation’s development. Using a nonparametric estimation, this investigation...

The paper aims at quantifying the higher-order expectations that Keynes (1936) compared to the beauty contest, applying a measure of relative entropy to the Japanese ESP Forecast Survey data during the deflationary period. We conclude that during the deflationary period from June 2009 to April...

This paper examines the factors that lie behind the couples' declining number of children and desire for children, associating among living environment, economic situation, and husband and wife’s consciousness and sense of value. Data for this paper was compiled through a web-based...

Being healthy is one of the most important factors that affect the degree of human happiness. In an aging society, deaths due to cancer tend to increase. When considering the improvement of wealth of the aging society in Southeast Asia, the international transfer of Japanese R&D results and...

Less and late marriage and declining fertility of married couples are considered to be factors behind Japanese falling birth rate. The change in couple’s reproductive behavior is possibly related to couples’ economic and living situation including employment status of wives, educational...