Japan: Background Papers

International Monetary Fund

No 1995/116, IMF Staff Country Reports from International Monetary Fund

Abstract: This Background Papers on Japan analyzes the recent movements of the yen from a long-term perspective. It reviews the movements in the real value of the yen during the post-war period. The paper highlights that movements in the Consumer Price Index (CPI)- and WPI-based real exchange rate are shown to be characterized by transitory deviations around stable time trends. The paper discusses potential explanations for the secular real appreciation of the yen. The paper also examines the tax reform issues in Japan.

Keywords: ISCR; CR; exchange rate; output gap; price level; purchase price; nominal exchange rate; export price; market share; consumer surplus; business cycle; production function; Agricultural commodities; Income; Personal income; Agricultural sector; Global (search for similar items in EconPapers)
Pages: 170
Date: 1995-12-01
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:1995/116

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