Overview
Through theoretical and empirical analysis of the microeconomic (corporate) behaviors that determine pass-through (i.e., export/import pricing, choice of invoice currency, and foreign exchange risk management) under the existence of a rational strategy on currency risk employed by multinational firms, the objective of this project is to elucidate the following: (i) clarify the impacts of commodity-level and corporate-level factors on pass-through on a macroeconomic level, and (ii) reassess the effects of deregulation of Japanese capital control in the 1990s on yen-denominated transactions and forecast the effects of easing capital control in emerging countries on the international currency system.
May 7, 2013 - March 31, 2015
Major Research Results
2015
RIETI Discussion Papers
- 16-E-031
"Choice of Invoice Currency in Japanese Trade: Industry and commodity level analysis" (ITO Takatoshi, KOIBUCHI Satoshi, SATO Kiyotaka and SHIMIZU Junko) - 15-E-098
"Asymmetric Exchange Rate Pass-Through in Japanese Exports: Application of the threshold vector autoregressive model" (Thi-Ngoc Anh NGUYEN and SATO Kiyotaka) - 15-E-080
"Choice of Invoice Currency in Global Production and Sales Networks: The case of Japanese overseas subsidiaries" (ITO Takatoshi, KOIBUCHI Satoshi, SATO Kiyotaka and SHIMIZU Junko) - 16-J-035
"Exchange Risk Management and the Choice of Invoice Currency: 2013 questionnaire survey of Japanese exporting firms" (ITO Takatoshi, KOIBUCHI Satoshi, SATO Kiyotaka and SHIMIZU Junko) - 15-J-054
"Exchange Risk Management and the Choice of Invoice Currency: 2014 Questionnaire Survey of Japanese Overseas Subsidiaries" (ITO Takatoshi, KOIBUCHI Satoshi, SATO Kiyotaka and SHIMIZU Junko)
2014
RIETI Discussion Papers
- 15-E-024
"Automobile Exports: Export price and retail price" (YOSHIDA Yushi and SASAKI Yuri) - 15-E-020
"Abenomics, Yen Depreciation, Trade Deficit, and Export Competitiveness" (SHIMIZU Junko and SATO Kiyotaka) - 14-J-022
"Abenomics, Yen Depreciation, Trade Deficit and Export Competitiveness" (SHIMIZU Junko and SATO Kiyotaka)
