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| Kang, Sammo; Kim, Soyoung; Wang, Yunjong; Yoon, Deok Ryong. |
| Japan and Korea are close countries in terms of economic interaction as well as geography. To quantify the impact of changes in the yen-dollar exchange rate on the Korean economy before and after the crisis in 1997, the sample period has been divided into two sub-periods and the causal relationships examined by using vector autoregression analysis. Our estimates show that while the response of Korean industrial production to changes in the yen-dollar exchange rate was not significant during the pre-crisis period, it became significant during the post-crisis period. The forecast error variance decomposition also confirms that the yen-dollar exchange rate shocks have almost negligible explanatory power with regards to Korean industrial production during the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: International Relations/Trade; E32; F36; F41. |
| Ano: 2003 |
URL: http://purl.umn.edu/26297 |
