Increasing numbers of Japanese firms have adopted or plan to adopt IFRS since 2013, when almost all listed firms were permitted to adopt IFRS in Japan. Although there are other options such as Japanese-GAAP, US-GAAP, or Japanese Modified International Standards (JMIS), these firms have chosen...

For a better understanding of the ongoing debates on the RMB, this paper investigates the effects of exchange rate shocks on output and the current account for China and Japan. We use structural vector auto-regression models and find that yen appreciation reduces current account surpluses while...