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COVID-19 calls for international economic policy coordination
Author: Masahiko Takeda, ANU The COVID-19 outbreak is ravaging the world. The human costs are rising day by day, and its social, financial and economic ramifications are already immense. By now it is...
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Japan’s economy not spared in 2020
Author: Masahiko Takeda, ANU Japan is facing a third wave of COVID-19 infections and the waves are getting higher each time. Debate is once again raging about the government’s balancing act between...
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Challenges abound for Japan’s Kishida in 2022
Author: Masahiko Takeda, ANU Through 2021, Japan experienced its third, fourth and fifth waves of COVID-19. A government state of emergency was in place during most of the first nine months of 2021,...
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Tourism and foreign labour a ray of hope for Japan’s economy
Author: Masahiko Takeda, ANU In thinking about Japan’s strategic economic policy choices, it is useful to take a dispassionate look at where the Japanese economy stands right now. Japan’s international...
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Shocks new and old for Japan
Author: Masahiko Takeda, ANU In 2022, Japan managed to cope with one major shock from the past, but was hit by two new ones. In spite of positive developments in its COVID-19 recovery, the Japanese...
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Sanctions on Russia will work, but slowly
Author: Masahiko Takeda, ANU In response to Russia’s invasion of Ukraine, the G7 and some 50 other countries have imposed economic sanctions on Russia. They consist of two broad categories: real and...
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Bank of Japan’s new governor Ueda confronts big calls on monetary policy
Author: Masahiko Takeda, ANU While many advanced economy central banks are facing a dilemma over how to fight inflation in the middle of an outbreak of financial instability, the Bank of Japan (BOJ) is...
View ArticleIMF special drawing rights as a tool to bolster global economic resilience
SDRs function as a universally accepted international reserve asset that can be exchanged with hard currencies and used outside of the IMF for different purposes. Each member’s SDR holdings serve as a...
View ArticleJapan’s economic balancing act around trends that are unsustainable
The Japanese economy was characterised by two key trends in 2023. Key macroeconomicindicators, such as GDP and employment, were broadly in good shape. But unsustainableeconomic trends kept worsening...
View ArticleBank of Japan reverses gear on monetary policy, back to managing inflation
Last month, the Bank of Japan (BOJ) took its first step in the ‘normalisation’ of monetary policy. It raised the Bank’s short-term policy interest rate from negative 0.1 per cent to 0–0.1 per cent and...
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