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.
- Language
-
Englisch
- Bibliographic citation
-
Series: Tübinger Diskussionsbeiträge ; No. 218
- Classification
-
Wirtschaft
- Subject
-
Yen
Yen/Dollar Exchange Rate
Foreign Exchange Intervention
Japan
Wechselkurs
Yen
Aufwertung
Zinsdifferenz
Kaufkraftparität
Deflation
Außenhandelspreis
US-Dollar
Japan
- Event
-
Geistige Schöpfung
- (who)
-
Schnabl, Gunther
- Event
-
Veröffentlichung
- (who)
-
Eberhard Karls Universität Tübingen, Wirtschaftswissenschaftliche Fakultät
- (where)
-
Tübingen
- (when)
-
2001
- Handle
- URN
-
urn:nbn:de:bsz:21-opus-24330
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Schnabl, Gunther
- Eberhard Karls Universität Tübingen, Wirtschaftswissenschaftliche Fakultät
Time of origin
- 2001
Other Objects (12)
Weak Economy and Strong Currency: The Origins of the Strong Yen in the 1990s
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Net Foreign Asset Positions and Appreciation Expectations on the Swiss Franc and the Japanese Yen
Weak economy and strong currency – the origins of the strong yen in the 1990's
China's exchange rate impasse and the weak U.S. dollar
China's exchange rate impasse and the weak U.S. dollar
Purchasing power parity: Granger causality tests for the yen-dollar exchange rate
The Russian currency basket: The rising role of the Euro for Russia's exchange-rate policies
The role of the chinese dollar peg for macroeconomic stability in China and the world economy
The evolution of the East Asian currency baskets: still undisclosed and changing
The global move into the zero interest rate and high debt trap
A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility
Weak Economy and Strong Currency: The Origins of the Strong Yen in the 1990s
The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy
Net Foreign Asset Positions and Appreciation Expectations on the Swiss Franc and the Japanese Yen
Weak economy and strong currency – the origins of the strong yen in the 1990's
China's exchange rate impasse and the weak U.S. dollar
China's exchange rate impasse and the weak U.S. dollar
Purchasing power parity: Granger causality tests for the yen-dollar exchange rate
The Russian currency basket: The rising role of the Euro for Russia's exchange-rate policies
The role of the chinese dollar peg for macroeconomic stability in China and the world economy
The evolution of the East Asian currency baskets: still undisclosed and changing
The global move into the zero interest rate and high debt trap
A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility
Weak Economy and Strong Currency: The Origins of the Strong Yen in the 1990s
The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy
Net Foreign Asset Positions and Appreciation Expectations on the Swiss Franc and the Japanese Yen
Weak economy and strong currency – the origins of the strong yen in the 1990's
China's exchange rate impasse and the weak U.S. dollar
China's exchange rate impasse and the weak U.S. dollar
Purchasing power parity: Granger causality tests for the yen-dollar exchange rate
The Russian currency basket: The rising role of the Euro for Russia's exchange-rate policies
The role of the chinese dollar peg for macroeconomic stability in China and the world economy
The evolution of the East Asian currency baskets: still undisclosed and changing
The global move into the zero interest rate and high debt trap