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The Yen's Progress and Japanese Exports
I'm just back from Japan, where disappointing GDP statistics have reinforced the fact that the economy is still far from full recovery. However, like in the US, first reads on GDP statistics are often very noisy, so one shouldn't get too worked up (while revisions have tended to be downward, post-2008, just like in the US, successful prediction of direction of and acceleration in growth has increased post-2008 [0]). Still, with exports accounting for a notable share of growth [1] [2], this led me to wonder how much of the exchange rate depreciation that occurred several months ago has remained, and has led to ... (full story)