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For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.
The rapid productivity growth in manufacturing industries made Japanese products more competitive in world markets at the fixed exchange rate for the yen during the decade, and the chronic deficits that the nation faced in the 1950s had disappeared by the middle of the 1970s. International pressure to dismantle quota and tariff barriers mounted ...
The debate of choosing between fixed and floating exchange rate methods is formalized by the Mundell–Fleming model, which argues that an economy (or the government) cannot simultaneously maintain a fixed exchange rate, free capital movement, and an independent monetary policy. It must choose any two for control and leave the other to market ...
Currency depreciation is the loss of value of a country's currency with respect to one or more foreign reference currencies, typically in a floating exchange rate system in which no official currency value is maintained. Currency appreciation in the same context is an increase in the value
The unemployment rate in December 2013 was 3.7%, down 1.5 percentage points from the claimed unemployment rate of 5.2% in June 2009 due to the strong economic recovery. [ 196 ] [ 197 ] [ 198 ] In 2008 Japan's labor force consisted of some 66 million workers—40% of whom were women—and was rapidly shrinking. [ 199 ]
Currency strength expresses the value of currency. For economists, it is often calculated as purchasing power, [1] while for financial traders, it can be described as an indicator, reflecting many factors related to the currency; for example, fundamental data, overall economic performance (stability) or interest rates.
The article lists the GDP of Japanese prefectures in main fiscal years, where all figures are obtained from the Statistics Bureau of Japan (日本統計局).Calculating GDP of Japanese prefectures is based on Japanese yen (JP¥), for easy comparison, all the GDP figures are converted into United States dollar (US$) or Renminbi (CN¥) according to current annual average exchange rates.
This model can account for real exchange rate volatility, but does not say anything about the volatility of relative to output or the persistence of the real exchange rate movements. Chari , Kehoe and McGrattan (2002) [ 2 ] showed how a model with two countries and where prices were only allowed to change once-a-year had the potential to ...