The Yo-Yo Yen

The violent fluctuations of the Japanese yen through the 1980s and 1990s have played a critical role in Japan's economic decline. Brendan Brown highlights the causes of the yen's bizzare behaviour, and analyses the consequences for the Japanese and global economies. Through this analysis he presents an original hypothesis, linking the periodic sharp upswings of the Yen to poor economic performance and offers a new view as to where the responsibility for failure of the Japanese currency market to function normally lies.

Autorentext
BRENDAN D. BROWN is Director and Head of Research at Tokyo-Mitsubishi International plc, London. He is an international economist, specialising in the analysis of global capital flows and currencies and has post-graduate qualifications from the University of Chicago and London School of Economics. He is the author of many books and articles on international finance, and is the author of a column in Nikkei Kin-yu Shimbun, the main financial newspaper of Japan.

ROBERT Z. ALIBER is Professor of International Finance at the University of Chicago Graduate School of Business. He has written a number of books, and acts as a consultant on currency and financial outlook.

Inhalt
Overview A Brief History of the Yo-Yo Yen Why So Violent? The YEN-EURO-US Dollar Triangle The Yo-Yo Yen Was Not Manufactured in Washington Asian Economies and the Yo-Yo Yen What Could Tame the Yen? Lessons of the Yo-Yo Yen Japan's Ageing Population and the Long-run Future of the Yen