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The Japanese Trade Balance : Recent History and Future Prospects
Oleh:
Backus, David
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
JAPAN AND THE WORLD ECONOMY vol. 10 no. 4 (1998)
,
page 409-420.
Topik:
balance of trade
;
trade balance
;
history
;
future prospects
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ47.8
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The rise in the yen in the early 1990s was held out as a 'solution' to the persistent Japanese trade surplus. I argued, instead, that the sharp rise in the yen through mid - 1993 would lead at most to a modest decline in net exports. This forecast, made in late 1993, was remarkably accurate, despite a subsequent fall in the dollar to 80 yen. It reflects a resilient feature of trade data known to most empirical researchers : that relative price movements account for only a fraction of observed movements in the balance of trade or current account.
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