IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/3298_8.html
   My bibliography  Save this book chapter

Exchange Rate or Wage Changes in International Adjustment? Japan and China versus the United States

In: Recent Financial Crises

Author

Listed:
  • Ronald I. McKinnon

Abstract

Comprising original and never-before-published papers by distinguished economists, this book offers insights about lessons that were or should have been learned from recent outbreaks of such crises in East Asia and elsewhere. Recent Financial Crises also presents a set of econometric studies of issues such as labor market behavior, investment and productivity, and exchange rate adjustments.

Suggested Citation

  • Ronald I. McKinnon, 2006. "Exchange Rate or Wage Changes in International Adjustment? Japan and China versus the United States," Chapters, in: Lawrence R. Klein & Tayyeb Shabbir (ed.), Recent Financial Crises, chapter 8, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3298_8
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/1843766426.00017.xml
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Ronald I. McKinnon & Kenichi Ohno, 1997. "Dollar and Yen: Resolving Economic Conflict between the United States and Japan," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262133350, December.
    2. Zhang, Xiaobo & Tan, Kong-Yam, 2004. "Blunt to sharpened razor: incremental reform and distortions in the product and capital markets in China," DSGD discussion papers 13, International Food Policy Research Institute (IFPRI).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:dau:papers:123456789/5487 is not listed on IDEAS
    2. Paul J.J. Welfens, 2009. "Innovationen und Transatlantische Bankenkrise: Eine ordnungspolitische Analyse," EIIW Discussion paper disbei171, Universitätsbibliothek Wuppertal, University Library.
    3. Antoine Bouveret & Sana Mestiri & Henri Sterdyniak, 2006. "The renminbi equilibrium exchange rate: an agnostic view," Documents de Travail de l'OFCE 2006-13, Observatoire Francais des Conjonctures Economiques (OFCE).
    4. Haihong Gao, 2006. "Real Exchange Rate in China : A Long-run Perspective," Macroeconomics Working Papers 21969, East Asian Bureau of Economic Research.
    5. Das, Dilip K., 2009. "The evolution of renminbi yuan and the protracted debate on its undervaluation: An integrated review," Journal of Asian Economics, Elsevier, vol. 20(5), pages 570-579, September.
    6. Yin-Wong Cheung & Dickson C. Tam & Matthew S. Yiu, 2008. "Does the Chinese interest rate follow the US interest rate?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 13(1), pages 53-67.
    7. Risheng Mao & John Whalley, 2011. "Ownership Characteristics, Real Exchange Rate Movements and Labor Market Adjustment in China," NBER Working Papers 17565, National Bureau of Economic Research, Inc.
    8. Paul Welfens, 2012. "Marshall-Lerner condition and economic globalization," International Economics and Economic Policy, Springer, vol. 9(2), pages 191-207, June.
    9. Gentisa Furxhi & Sonela Stillo & Marinela Teneqexhi, 2016. "Organizational Change: Employees Reaction Towards It," European Journal of Multidisciplinary Studies Articles, Revistia Research and Publishing, vol. 1, ejms_v1_i.
    10. Kurokawa, Yoshinori & Pang, Jiaren & Tang, Yao, 2016. "Exchange rate regimes and wage comovements in a Ricardian model with money," Journal of International Economics, Elsevier, vol. 102(C), pages 96-109.
    11. repec:hal:spmain:info:hdl:2441/5121 is not listed on IDEAS
    12. repec:spo:wpmain:info:hdl:2441/5121 is not listed on IDEAS
    13. Emre Ünal, 2016. "A comparative analysis of export growth in Turkey and China through macroeconomic and institutional factors," Evolutionary and Institutional Economics Review, Springer, vol. 13(1), pages 57-91, June.
    14. repec:hal:spmain:info:hdl:2441/5378 is not listed on IDEAS
    15. repec:spo:wpmain:info:hdl:2441/5378 is not listed on IDEAS

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ronald McKinnon, 2006. "China'S Exchange Rate Appreciation In The Light Of The Earlier Japanese Experience," Pacific Economic Review, Wiley Blackwell, vol. 11(3), pages 287-298, October.
    2. Zhang, Xiaobo, 2006. "Asymmetric property rights in China's economic growth," DSGD discussion papers 28, International Food Policy Research Institute (IFPRI).
    3. Chong-En Bai & Chang-Tai Hsieh & Yingyi Qian, 2006. "The Return to Capital in China," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 37(2), pages 61-102.
    4. Ronald I. McKinnon, 2005. "Exchange rates, wages, and international adjustment: Japan and China versus the United States," Proceedings, Federal Reserve Bank of San Francisco, issue feb.
    5. Zhicheng Liang, 2006. "Financial Development, Growth, and Regional Disparity in Post-Reform China," WIDER Working Paper Series RP2006-90, World Institute for Development Economic Research (UNU-WIDER).
    6. Dougherty, Sean & Herd, Richard & He, Ping, 2007. "Has a private sector emerged in China's industry? Evidence from a quarter of a million Chinese firms," China Economic Review, Elsevier, vol. 18(3), pages 309-334.
    7. World Bank, 2005. "China : Integration of National Product and Factor Markets, Economic Benefits and Policy Recommendations," World Bank Publications - Reports 8690, The World Bank Group.
    8. Mukherjee, Anit & Zhang, Xiaobo, 2005. "Rural non-farm development in China and India: the role of policies and institutions," DSGD discussion papers 24, International Food Policy Research Institute (IFPRI).
    9. Kong-Yam Tan, 2007. "Incremental Reform and Distortions in China's Product and Factor Markets," The World Bank Economic Review, World Bank, vol. 21(2), pages 279-299, March.
    10. Sylviane GUILLAUMONT JEANNENEY & PING HUA & ZHICHENG LIANG, 2006. "Financial Development, Economic Efficiency, And Productivity Growth: Evidence From China," The Developing Economies, Institute of Developing Economies, vol. 44(1), pages 27-52, March.
    11. nan, 2007. "Transforming the rural nonfarm economy: Opportunities and threats in the developing world," IFPRI books, International Food Policy Research Institute (IFPRI), number 978-0-8018-8664-5 edited by Haggblade, Steven; Hazell, Peter B. R.; Reardon, Thomas Anthony.
    12. Nico Heerink & Marijke Kuiper & Xiaoping Shi, 2006. "China's New Rural Income Support Policy: Impacts on Grain Production and Rural Income Inequality," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 14(6), pages 58-69, November.
    13. Mauro Boianovsky, 2004. "The IS-LM Model and the Liquidity Trap Concept: From Hicks to Krugman," History of Political Economy, Duke University Press, vol. 36(5), pages 92-126, Supplemen.
    14. Charles Yuji Horioka, 2016. "Is Imbalances And Current Account Surpluses In Japan: In Memory Of Professor Ronald I. Mckinnon," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-17, June.
    15. Gunther Schnabl & Christian Danne, 2005. "The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy," International Finance 0503001, University Library of Munich, Germany.
    16. Haider A. Khan, 2004. "General Conclusions: From Crisis to a Global Political Economy of Freedom," Palgrave Macmillan Books, in: Global Markets and Financial Crises in Asia, chapter 9, pages 193-211, Palgrave Macmillan.
    17. Raphael Fischer & Gunther Schnabl, 2018. "Regional heterogeneity, the rise of public debt and monetary policy in post-bubble Japan: lessons for the EMU," International Economics and Economic Policy, Springer, vol. 15(2), pages 405-428, April.
    18. Ronald McKinnon & Gunther Schnabl, 2002. "Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China’s Stabilizing Role," Working Papers 02010, Stanford University, Department of Economics.

    More about this item

    Keywords

    ;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:3298_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.