-
Japanese Ask, What’s Wrong With a Little Deflation?
As Haruhiko Kuroda tries to spur Japan (JGDPAGDP)’s inflation rate, he faces a worrying question: What if his Bank of Japan predecessor was right about why he will fail? In June 2011, then-BOJ Governor Masaaki Shirakawa faced extreme pressure to double the monetary base, a step Kuroda took just days after replacing him in March. When Shirakawa, a University of Chicago-trained economist, was asked why he’d refused to budge, he offered a surprising excuse: Japan’s aging population, whose fixed incomes would be eaten away by rising prices. Politicians thought the rationale was a copout. Shinzo Abe’s first act as ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Sep 17, 2013 12:54am Sep 17, 2013 12:54am
- rokeering
- | Joined Mar 2013 | Status: Member | 1 Comment
- Comment #2
- Quote
- Sep 17, 2013 12:56am Sep 17, 2013 12:56am
- michaelpelly
- Joined Oct 2012 | Status: Member | 1992 Comments
- Comment #3
- Quote
- Sep 17, 2013 1:30am Sep 17, 2013 1:30am
- johnel
- | Joined Jan 2012 | Status: Member | 508 Comments
- Comment #4
- Quote
- Sep 17, 2013 2:18am Sep 17, 2013 2:18am
- Greener
- | Joined Jan 2010 | Status: Member | 667 Comments