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December 13, 2017

Japanese Monetary Policy Is Working, But the BoJ Can’t Tell You Why

In September 2016, the Bank of Japan adopted a new strategy to boost the flagging Japanese economy: “yield curve control,” or YCC. The aim was to widen the gap between long- and short-term intere…

Japanese Monetary Policy Is Working, But the BoJ Can’t Tell You Why

February 10, 2016

Could China Have a Reserves Crisis?

    Last summer, U.S. lawmakers were condemning China for pushing down its currency, arguing that it was still “terribly undervalued.” But those days may be long gone.  Chinese and foreigne…

Could China Have a Reserves Crisis?

July 11, 2016

Voters Give Abe an Opening for Constitutional Debate

This blog post is part of a series entitled Will Japanese Change Their Constitution?, in which leading experts discuss the prospects for revising Japan’s postwar constitution. As elections go, ye…


July 7, 2016

Budget, Debt, and Deficits
Meanwhile, in Japan, Household Consumption Continues to Fall

In news that you may have missed while strategizing about Article 50, thinking about ways to recapitalize Italian banks or pondering the future course of the renminbi ... Japan’s May household consu…


October 31, 2014

Three Central Banks

Today’s central bank news tells us a lot about the risks and rewards of proactive central banking. The Bank of Japan (BoJ) surprised me (and nearly everyone else ) with a dramatic expansion of its u…

April 5, 2013

Friday Asia Update: Top Five Stories for the Week of April 5, 2013

Sharone Tobias and Will Piekos look at the top five stories in Asia this week. 1. Japan gets aggressive on deflation. The Bank of Japan surprised investors Thursday by unveiling aggressive easy-mone…

A man walks past an electronic board showing the graphs of exchange rates between the Japanese yen, the U.S. dollar and Euro outside a brokerage in Tokyo on April 4, 2013. (Courtesy Reuters/Yuya Shino)

February 25, 2013

Post-Summit Decisions for Prime Minister Abe

Japan’s prime minister, Shinzo Abe, returned to Tokyo this weekend after his first summit meeting in Washington with President Barack Obama. Post-summit, Abe faces two important economic decisions. T…

Japan's Prime Minister Shinzo Abe participates in a media conference at a Washington hotel

April 8, 2013

Why Abenomics Matters

Last week, I wrote on the ECB’s meeting and the case for easing credit conditions in the periphery (a recommendation that they didn’t heed, though pressure to act is building).  I ignored the upcomin…

August 24, 2006

My testimony on China - and the Bergsten/ McKinnon debate …

I had the opportunity to testify before the US-China Economic and Security Review Commission on Tuesday – on a panel with C. Fred Bergsten and Professor Ronald McKinnon of Stanford.   It is q…