Jim Devine wrote: My impression is that the Japanese economy doesn't go into recessions every > time the Yen rises. The US has been pushing for a higher Yen for quite > awhile (and has been getting it), but Japan still has a trade surplus. > Jim is correct, but in previous times Japanese exporters tended to keep prices steady and reduced their profits -- they reduced what the specialists call the "pass through". Can they do this again? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
