Lower-interest-rate currencies tend to depreciate relative to higher-interest-rate currencies. This observation is inconsistent with a popular theory, uncovered interest parity (UIP). According to market participants' views, this is caused by the carry-trade activities in a low-volatility...

Traditionally employees in Japanese companies had self-initiative work style, on the basis of the peace of mind offered by job security. However, today, Japanese companies cannot guarantee the lifetime employment any more. As a result, in order to support individual career development,...