Currently, the global market for subscription services is facing a crisis of approaching saturation, prompting increased attention to the Asia-Pacific region. Meanwhile, digital content subscription services in Japan are late in the game but are on a continuous upward trend, indicating...

In theory, nominal exchange rate movements can lead to “expenditure switching” when they generate changes in the relative prices of goods across countries. This paper explores whether the expenditure-switching role of exchange rates has changed in the current episode of significant global...