II. 2. The progress of Yen carry trade
Since 1990s, Japanese government and central bank started lowering interest rate policies so that Yen carry trade has begun.
1) After Kobe Earthquake in 1995, the Bank of Japan lowers the interest rate at 1%. In 1997, as financial crisis in East-Asia was broadening, Yen carry assets were paid off. In addition, The sharp increase in foreign bank as
II. Yen carry trade
II. 1. What is Yen carry trade?
II. 1. (1) Typical meaning
The typical meaning is “borrowing at low interest rates in yen and using the loan to buy higher yielding assets elsewhere.” During the past decade, the trade has become a “staple” for many investors. One of the most popular forms of the strategy exploits the gap between US and Japanese yields. Anyone
1. Abstract
On October 24, 2002, Korea concluded its first Free Trade Agreement (FTA) with Chile amidst delicate international and domestic circumstances. The first FTA between Asia and America allows Chile to strengthen its transoceanic platform proposal, either for services and exchange of goods (Government of Chile, 2004). It has been four years since the Korea-Chile FTA has been in effect
(1) 가격효과(price effect)
수입품에 대한 관세의 부과로 소비자는 관세부과 이전의 가격인 OP보다 더 높은 가격인 OPt를 지불하여야 한다. 그러므로 소비자는 관세부과 정도의 가격인상률을 부과하여야 한다.
(2) 소비효과(consumption effect)
수입품에 관세가 부과되면 국내소비자들은 부과된 관세액만큼
Trade Affects Income 무역을 통해 소득에 영향을 주는 경로
각 나라를 i라고 하였을 때 그 소득을 라고 가정하자. 이 식에 로그를 취하여 각 요소의 합으로 나타낼 수 있다 (K:자본, N:노동, A: 생산성 S:노동자의 교육연수). 또한 로그를 취한 1985년 노동자당 산출량을 성장률의 합으로 나타내어, 무역이 자본