The Economist (January 9)
2016/ 01/ 10 by jd in Global News
“Japan is the best example” of how currency devaluations no longer seem to provide economies with much of a boost. “The yen has been depreciating rapidly. A Big Mac was 20% cheaper in Japan than in America in 2013; now it is 37% cheaper. Yet export volumes have barely budged…. This is a surprise: the IMF calculates that Japanese exports are around 20% lower than it would have expected, given how the yen has weakened.”
Tags: Big Mac, Boost, Currency devaluation, Depreciating, Export volumes, IMF, Japan, U.S., Yen
