Overview
Interest rate and exchange rate fluctuations have had significant impacts on the Japanese economy. Over the past ten years, the Japanese yen has depreciated against the US dollar by around twofold. While this depreciation has benefited manufacturers and exporters of final goods, it has also increased import costs, leading to higher prices for intermediate goods and imported consumer goods.
This research project aims to investigate the following: (1) The determinants of long-term real exchange rates. (2) Long-term shifts in global economic and industrial structures. (3) The impact of exchange rate fluctuations on industrial structure and macroeconomic performance in Japan. (4) The effects of the widening interest rate differential between Japan and the United States on the Japanese economy.
May 2, 2025 - October 31, 2027
（During the research project period, the research activity period is set from May 2, 2025, to April 30, 2027, and the data usage reporting period is set from May 1, 2027 to October 31, 2027.）
