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February 2007

Japanese exchange rates, export restraints, and auto prices in the 1980s

Ana M. Aizcorbe

Regression analysis indicates that, after 1986, Japanese exchange rates had a significant positive effect on prices of U.S. domestically produced automobiles and, hence, that Japanese voluntary export restraints were not binding; pre-1986 results are inconclusive, but consistent with binding voluntary export restraints.

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