Eiji Ogawa

Takatoshi Itō

Yuri Nagataki Sasaki

In this paper we have constructed a theoretical model in which Asian firms maximize their profit, competing with Japanese and US firms in their markets. The duopoly model is used to determine export prices and volumes in response to the exchange rate fluctuations vis- ...-vis the Japanese yen and the US dollar. Then, the optimal basket weight to minimize the fluctuation of the growth rate of trade balance is derived. These are the novel features of our model. The export price equation and export volume equation are estimated for several Asian countries for the sample period of 1981 to 1996. Results are generally reasonable. The optimal currency weights for the yen and the US dollars are derived and compared with actual weights that had been adopted before the currency crisis of 1997. For all the countries in the sample, it is shown that the optimal weight of the yen is significantly higher than the actual weight.

How Did the Dollar Peg Fail in Asia?

Jan Wouters

Dimitri Vanoverbeke

Kolja Raube

This timely book explores the relationship between Japan and the European Union as they work increasingly closely together in many areas of global governance. It discusses the most salient areas of such cooperation from a range of perspectives, while examining not just convergences but also differences. Written by experts from both Europe and Japan, interdisciplinary chapters investigate both actors' current approaches to global governance and multilateralism as well as providing a historical perspective on their bilateral relations. The book explores their cooperation in areas stretching from trade and finance to security in light of the recent EU-Japan Economic Partnership Agreement and Strategic Partnership Agreement. Offering insights into their current relationship, it outlines challenges for the future, and draws relevant lessons from the history of global governance in Asia and Europe. Scholars of Asian and European law with an interest in international governance and regulation, and particularly those working in EU-Japan affairs, will find this a significant and stimulating read. It will also be useful for policy-makers in the EU and Japan working in international security, trade, and economic, monetary and financial policy.

Japan, the European Union and Global Governance

Camille Van der Vorst

This timely book explores the relationship between Japan and the European Union as they work increasingly closely together in many areas of global governance. It discusses the most salient areas of such cooperation from a range of perspectives, while examining not just convergences but also differences, in light of the recent EU–Japan Economic Partnership Agreement and Strategic Partnership Agreement.

Eiji Ogawa

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