- , , , , , . , , ?
, , (purchasing power parity - ), : ; , .
Pd - (domestic price) , a Pf - , (foreign price). , , . , . , ,
S=Pd/Pf
() .
Toyota 3,10 , 23700 , ,
S=3100000/23700=130.80
, , , . , 130.8 . , , .
- , . : , , ; .
, , , . , , ( ). . , Pd Pf ( ). (absolute version of purchasing power parity).
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. , , , . ( ) δPd δPf , ( )
δS= δPd-δPf
(relative version of purchasing power parity). 5%, 1%, 4 %.
. Plaza Accord 1985 , (G5) ( ). , , , .
, , (Trade Balance), ,
Trade Balance = Export - Import
, , , , , ( , ) . , , , , , .
, . 1999 : ( - bubble) , , FED , - , .
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; , ( ) , , . , , , , , . 21 , - . , , , , , , .
21 1999 , , - . 3.1 3.2 , .
. 3.1. ; (BOJ meeting) (US foreign trade), 21 1999 .
, , ( ). J-, . , . , , ( , , - ). , (. 3.4.).
. 3.2. ; 21 -
. 3.4. J -
, .
- - , , . , , . , , . , , , , . , , , .
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, , , . ( , ), , ( , ), .
, , , () , . , , , . , , . .
, , . . , , , .
&
, , . , . wd(i) wf(i) - i- () , i .
Pd Pf, ,
Pd = Σ wd(i)* Pd(i),
Pf=Σ wf(i)*Pf(i),
. , (absolute version of purchasing power parity),
Pd = S * Pf,
, , .
, . -, , ; ( ), . , , , .. , , , ( ). , , , .
(relative version of purchasing power parity) , . , Pd(t) - t, , Pd(t+T) - (, ).
δS, δPd, δPf t t+T , , , ,
S(t+T) - S(t) Pd(t+T) - Pd (t)
δS = , Pd = ,