Many argue that the yuan needs to appreciate to rebalance the People's Republic of China's trade. However, empirical evidence on the effects of a CNY appreciation on the People's Republic of China's exports has been mixed for the largest category of exports, processed exports. Since much of the...

By the end of 2007, China’s current account surplus represented 11.1 percent of thecountry’s gross domestic product. Many have argued that an appreciation of the RMBwould help to reduce this surplus and restore order to global accounts. Using a panel dataset including China’s exports to 33...

The Japanese yen in 2012 remained 25% above its value in 2007. Exports, industrial production, and stock prices crashed after 2007 and had yet to regain their pre-crash values five years later. This paper investigates the contribution of the yen appreciation to this economic disaster. Evidence...

Estimating the price elasticity of China's imports is difficult because many imports are used to produce exports and because the real effective exchange rate has remained fairly stable. To circumvent the first problem, we control for re-exports, and to increase the discriminatory power of the...