CIS Microfiche Library 1970-2002 (CIS Asia Pacific Collection)

 CIS NO: 83-H781-11
 TITLE: Current Exchange Rate Relationship of the U.S. Dollar and the
     Japanese Yen.
 SOURCE: Committee on Ways and Means. House
 DOC TYPE: Hearing                   COLLATION: iii+186 p.
 DATE: Nov. 30, 1982
 CONGRESS-SESSION: 97-2              SUDOC: Y4.W36:97-85
 ITEM NO: 1028-A; 1028-B
 LC CARD NO: 83-601549               MC ENTRY NO: 83-14685

 Committee Serial No. 97-85. Hearing before the Subcom on Trade to examine
 implications of yen-dollar exchange rate fluctuations for U.S.-Japan trade
 relations. Focuses on competitive advantage to Japan of lower export prices
 resulting from yen depreciation against the dollar.
   Includes submitted statements (p. 181-186).
 CONTENT NOTATION: Japan-US exchange rate fluctuations, impact on trade
     relations
 DESCRIPTORS (and special content notations): SUBCOM ON TRADE. HOUSE;
     FOREIGN.EXCHANGE; FOREIGN.TRADE; COMPETITION; BALANCE OF PAYMENTS
     (Japan-US exchange rate fluctuations, impact on US balance of payments);
     JAPAN (US-Japan exchange rate fluctuations, impact on trade
     relations); PRICES

 83-H781-11 TESTIMONY NO: 1         Nov. 30, 1982 p. 3-102
 WITNESSES (and witness notations):
     ELDER, TIMOTHY L. (DC rep, Caterpillar Tractor Co.; on behalf of)
     MORGAN, LEE L. (chm, task force on intl trade and investment, Business
        Roundtable)
     BERGSTEN, C. FRED (dir, Inst for Intl Economics)
     PETERSON, PETER G. (former Sec, Commerce Dept; bd chm, Lehman Bros
        Kuhn and Loeb)
 STATEMENTS AND DISCUSSION: Adverse U.S. trade impact of yen-dollar
     imbalance; extent of U.S. balance of payments deterioration due to
     exchange rate misalignment; suggested approaches to remedy exchange rate
     inequity, focusing on revisions in U.S. and Japanese economic policy.
       Negative effect of U.S. budget deficits and resulting high interest
     rates on yen-dollar relationship; potential exchange rate benefits of
     Japanese reduction of barriers to foreign investment.
 INSERTION: 
     -- Peterson, P. G., "Social Security" program revisions, NY Review,
        Dec. 2, 16, 1982 (p. 59-79).
 CONTENT NOTATION: Japan-US exchange rate fluctuations, impact on trade
     relations
 DESCRIPTORS (and special content notations): INSTITUTE FOR INTERNATIONAL
     ECONOMICS; FOREIGN.INVESTMENTS (Japanese foreign investment
     restrictions revision, impact on exchange rates); TRADE REGULATION
     (Japanese foreign investment restrictions revision, impact on exchange
     rates); ECONOMIC.POLICY (Japanese and US economic policy revisions
     impact on exchange rates); SOCIAL SECURITY ("Social Security" program
     revisions, article); LEHMAN BROS. KUHN AND LOEB, INC.; INTEREST RATES
     (Japan-US exchange rate fluctuations, interest rates impact); BUDGET OF
     THE U.S. (Japan-US exchange rate fluctuations, US deficit impact);
     CATERPILLAR TRACTOR CO.; BUSINESS ROUNDTABLE

 83-H781-11 TESTIMONY NO: 2         Nov. 30, 1982 p. 103-141
 WITNESSES (and witness notations):
     MCGRANN, THOMAS P. (vp, commercial, C F and I Steel Corp)
     FOX, LAWRENCE A. (vp, intl economic aff, Natl Assn of Mfrs)
     DANIELIAN, RONALD L. (exec vp and treas, Intl Economic Policy Assn)
 STATEMENTS AND DISCUSSION: Problems with suspected Japanese subsidization
     of steel shipments to U.S.; factors in yen-dollar misalignment,
     including international system of floating exchange rates and disparity
     between U.S. and Japanese interest rates; analysis of exchange rates
     impact on U.S. balance of payments (tables, p. 128-133).
 CONTENT NOTATION: Japan-US exchange rate fluctuations, impact on trade
     relations
 DESCRIPTORS (and special content notations): NATIONAL ASSOCIATION OF
     MANUFACTURERS; INTERNATIONAL ECONOMIC POLICY ASSOCIATION; SUBSIDIES
     (Japanese steel shipments to US, alleged subsidization); IRON AND STEEL
     INDUSTRY (Japanese steel shipments to US, alleged subsidization);
     INTEREST RATES (Japan-US exchange rate fluctuations, interest rates
     impact); C F AND I STEEL CORP.

 83-H781-11 TESTIMONY NO: 3         Nov. 30, 1982 p. 142-181
 WITNESSES (and witness notations):
     NISKANEN, WILLIAM A. (Member, Council of Economic Advisers)
     LAWSON, EUGENE K. (Dep Asst Sec, East Asia and Pacific, Intl Trade
        Admin, Commerce Dept)
     CONSTABLE, ELINOR G. (Dep Asst Sec, Intl Finance and Dev, Bur of
        Economic and Business Aff, State Dept)
 STATEMENTS AND DISCUSSION: Disbelief in existence of serious yen-dollar
     imbalance; efforts of Japanese Government to strengthen yen; relative
     importance of exchange rate situation and Japanese trade policy as
     causes of U.S. trade deficit with Japan.
 CONTENT NOTATION: Japan-US exchange rate fluctuations, impact on trade
     relations
 DESCRIPTORS: DEPARTMENT.OF.COMMERCE; DEPARTMENT.OF.STATE; COUNCIL OF
     ECONOMIC ADVISERS