Arbeitspapier
Weak economy and strong currency: The origins of the strong yen in the 1990's
During the 1990's the Japanese yen proved astonishingly strong despite the persisting recession. This paper tracks the origins of the high yen. It analyses the influence of interest rates, prices and foreign exchange policy on the yen-dollar exchange rate. It comes to the conclusion that real interest differentials can only explain shortterm exchange rate changes. Since prices have been exe rting their influence on the Japanese currency in the long run, the high yen is explained with deflation. The massive foreign exchange interventions of the 1990's were only able to stop the appreciation temporarily, if they were unsterilized, but they had no lasting effects.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tübinger Diskussionsbeiträge ; No. 218
- Klassifikation
-
Wirtschaft
- Thema
-
Yen
Yen/Dollar Exchange Rate
Foreign Exchange Intervention
Japan
Wechselkurs
Yen
Aufwertung
Zinsdifferenz
Kaufkraftparität
Deflation
Außenhandelspreis
US-Dollar
Japan
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Schnabl, Gunther
- Ereignis
-
Veröffentlichung
- (wer)
-
Eberhard Karls Universität Tübingen, Wirtschaftswissenschaftliche Fakultät
- (wo)
-
Tübingen
- (wann)
-
2001
- Handle
- URN
-
urn:nbn:de:bsz:21-opus-24330
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Schnabl, Gunther
- Eberhard Karls Universität Tübingen, Wirtschaftswissenschaftliche Fakultät
Entstanden
- 2001
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