The Effects of Japanese Foreign Exchange Market Interventions on the Yen/U.S. Dollar Exchange Rate Volatility

The Effects of Japanese Foreign Exchange Market Interventions on the Yen/U.S. Dollar Exchange Rate Volatility PDF Author: Michael Frenkel
Publisher:
ISBN:
Category :
Languages : en
Pages : 24

Book Description


Anatomy of Sudden Yen Appreciations

Anatomy of Sudden Yen Appreciations PDF Author: Mr.Fei Han
Publisher: International Monetary Fund
ISBN: 1498325394
Category : Business & Economics
Languages : en
Pages : 19

Book Description
The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and upward pressure on domestic consumer prices. On the other hand, large and sharp appreciations run the risk of lowering actual and expected inflation, squeezing corporate profits, generating a negative wealth effect through depressed equity prices, and reducing confidence in the Bank of Japan’s efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at underlying drivers of rapid yen appreciations, highlighting the key role of carry-trade and the zero lower bound as important amplifiers.

Strained Relations

Strained Relations PDF Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 022605151X
Category : Business & Economics
Languages : en
Pages : 453

Book Description
During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.

The Japanese Yen as an International Currency

The Japanese Yen as an International Currency PDF Author: Mr.George S. Tavlas
Publisher: International Monetary Fund
ISBN: 1451930992
Category : Business & Economics
Languages : en
Pages : 61

Book Description
The role of the Japanese yen as an international currency is assessed. It is found that the determinants of international-currency use imply some increase for the yen’s use in international finance; however, the implications for the yen’s use in international trade are mixed. It is also shown that, despite Japan’s emergence as the world’s largest net creditor nation, Japan’s capital outflows have not significantly facilitated the yen’s internationalization. Data are presented showing that, although the yen’s use as an international currency has increased, it is still rather modest. Wider use of the yen as a regional currency in Asia has occurred, though a “yen-zone” does not appear to be emerging.

Observations on U.S., Japanese, and German Forex Interventions, 1973-2004

Observations on U.S., Japanese, and German Forex Interventions, 1973-2004 PDF Author: Dhruv Sharma
Publisher: Dhruv Sharma
ISBN: 1973410125
Category : Business & Economics
Languages : en
Pages : 182

Book Description
This book documents, observes, and models the 'trial and error' period following Bretton Woods Collapse of Foreign Exchange Interventions by the G-3 Advanced Economies. The book serves as a narration and analytical reader for Exchange Rate Intervention Economics for this period of 1973 to 2004.

Market Volatility and Foreign Exchange Intervention in EMEs

Market Volatility and Foreign Exchange Intervention in EMEs PDF Author: Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico
Publisher:
ISBN: 9789291319626
Category : Banks and banking, Central
Languages : es
Pages : 0

Book Description


Advanced Intelligent Computing Theories and Applications

Advanced Intelligent Computing Theories and Applications PDF Author: De-Shuang Huang
Publisher: Springer Science & Business Media
ISBN: 364225943X
Category : Computers
Languages : en
Pages : 751

Book Description
This book constitutes the thoroughly refereed post-conference proceedings of the 7th International Conference on Intelligent Computing, ICIC 2011, held in Zhengzhou, China, in August 2011. The 94 revised full papers presented were carefully reviewed and selected from 832 submissions. The papers are organized in topical sections on intelligent computing in scheduling; local feature descriptors for image processing and recognition; combinatorial and numerical optimization; machine learning theory and methods; intelligent control and automation; knowledge representation/reasoning and expert systems; intelligent computing in pattern recognition; intelligent computing in image processing; intelligent computing in computer vision; biometrics with applications to individual security/forensic sciences; modeling, theory, and applications of positive systems; sparse manifold learning methods and applications; advances in intelligent information processing.

Currency Interventions, Fluctuations and Economic Issues

Currency Interventions, Fluctuations and Economic Issues PDF Author: Lawrence C. Hilbert
Publisher: Nova Publishers
ISBN: 9781604560787
Category : Business & Economics
Languages : en
Pages : 178

Book Description
A currency is a unit of exchange, facilitating the transfer of goods and services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. A currency zone is a country or region in which a specific currency is the dominant medium of exchange. To facilitate trade between currency zones, there are exchange rates, which are the prices at which currencies (and the goods and services of individual currency zones) can be exchanged against each other. Currencies can be classified as either floating currencies or fixed currencies based on their exchange rate regime. In common usage, currency sometimes refers to only paper money, as in coins and currency, but this is misleading. Coins and paper money are both forms of currency. In most cases, each country has monopoly control over the supply and production of its own currency. Member countries of the European Union's Economic and Monetary Union are a notable exception to this rule, as they have c

An Assessment of the Impact of Japanese Foreign Exchange Intervention : 1991-2004

An Assessment of the Impact of Japanese Foreign Exchange Intervention : 1991-2004 PDF Author: Alain P. Chaboud
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 50

Book Description


Official Foreign Exchange Intervention

Official Foreign Exchange Intervention PDF Author: Mr.Jorge Iván Canales Kriljenko
Publisher: International Monetary Fund
ISBN: 9781589064218
Category : Business & Economics
Languages : en
Pages : 58

Book Description
Despite increasing exchange rate flexibility, central banks in emerging markets still intervene in their foreign exchange markets for several reasons. In doing so, they face many operational questions, including on the degree of transparency and the choice of markets and counterparties. This paper identifies elements of best practice in official foreign exchange intervention, presents survey evidence on intervention practices in developing countries, and assesses the effectiveness of intervention in Mexico and Turkey.