Research Programs: International Macroeconomics

Research on Exchange Rate Pass-Through

Project Leader/Sub-Leader

ITO Takatoshi

ITO Takatoshi Faculty Fellow)



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


RIETI Discussion Papers


RIETI Discussion Papers