The Political Economy of Exchange Rates. The Case of the Japanese Yen
AbstractThis paper sets out a political economy model of strategic exchange rates, focusing in the importance of external lobbying. Applying it for the recent history of the Japanese yen, we show that pressure from the U.S. trade negotiators contributed to an appreciation of the Japanese yen, as well as to a reduction in import prices and profits of Japanese commercial banks.
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Bibliographic InfoPaper provided by BBVA Bank, Economic Research Department in its series Working Papers with number 0702.
Date of creation: Jul 2007
Date of revision:
Japan; yen; political economy model; lobbying;
Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F59 - International Economics - - International Relations and International Political Economy - - - Other
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