美联储-跨国公司汇率传导:来自日本的证据(英)-2026.8
聚焦美联储-跨国公司汇率传导:来自日本的证据(英)-2026.8。Before turning to the firm-level analysis, we document the aggregate patterns that motivate our focus on direct investment income. Figure 1 highlights two facts. First, the 2021–22 yen depreciation coincided with a deterioration in Japan’s trade balance and an increase in its。