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Japan Forfeits 30 Years to the Gyrations of the YenTsuchiya Hideo

What was once called Japan’s lost decade has now persisted for much longer than 10 years. Despite hopes that the policies of Abenomics would generate a virtuous circle of recovery, turmoil overtook the world economy before they could do so. The yen appreciated, stock prices fell, and it does not seem likely that the negative interest rate of the Bank of Japan will resuscitate the economy. Jap…
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When Will the “Postwar” End? Japanese Youth in Search of a FutureFuruichi Noritoshi

Japanese teenagers and young adults are remarkably content with their lives, in spite—or perhaps because—of the uncertain future they face. Sociologist Furuichi Noritoshi makes the case that the nation has betrayed its young people by artificially extending the “postwar” economy instead of adapting to the realities of a post-postwar world.
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Kuroda Launches Fresh Salvo in Effort to Stimulate Economy

The Bank of Japan’s October 31 surprise announcement of a fresh round of quantitative easing comes at a crucial time in Prime Minister Abe Shinzō’s bid to revive the Japanese economy through his Abenomics policies. Japan’s economic growth has stagnated since the government moved in April 2014 to increase the consumption tax by three points to 8%. Allowing the economy to remain flat would seriously…
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Risk-Taking Investors Welcome AbenomicsItoh Motoshige

Abe Shinzō has taken over as prime minister for the second time. The market and the political world have welcomed his arrival and especially his message that, for the time being, vanquishing deflation will be his top priority. As a result, the overvalued yen has undergone some correction, and stock prices have made large gains. While his administration is still working out the details of its polic…
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Abe’s Agenda on Three FrontsKitaoka Shin’ichi

In order to deal with the difficult issues Japan faces domestically and internationally, Prime Minister Abe Shinzō will need to display leadership and promote realistic policies without getting tied up in ideology.
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How Effective Will “Abenomics” Be?Abe Junichi

Hopes are growing that Abe Shinzō, Japan’s new prime minister, will be able to restore the health of the Japanese economy by means of his “Abenomics.” The yen finally began to weaken and stock prices surged late in 2012 when the decision to dissolve the House of Representatives was reached, signaling the markets expectations of Abe’s economic policies. The Liberal Democratic Party won a stunnin…
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The Bank of Japan’s New Price Stability GoalIwata Kikuo

When in February the Bank of Japan introduced a price stability goal, it was reported as virtually a switch to inflation targeting. But is this really so? And will the goal finally cure deflation? Evaluating the new policy, Gakushūin University Professor Iwata Kikuo casts doubt on its effectiveness.
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Can Japan’s Economy and Politics Withstand a Heavier Burden?Yasui Takayuki

Japan’s mountains of public debt cannot be resolved without increasing the burden on ordinary taxpayers. But how? Finding a way to do this without upsetting the electorate is the major political and economic challenge for Japan in the first half of 2012. The road ahead will not be easy. The fiscal crisis engulfing the world’s leading economies, sparked by the crisis in the euro zone, is threateni…
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