Modern Monetary Theory

Suga needs to get radical to save Japan

TOKYO – When economists and investors wonder what to expect from Japan’s next leader, they’re not thinking of the front runner in the premiership race that will be decided on Monday, Cabinet Secretary Yoshide Suga. They are really thinking of Haruhiko Kuroda. The Bank of…

Covid-hit Japan now paying banks to lend

TOKYO – In its decades-long effort to prod financiers to loosen up and lend more to defeat deflation, the Bank of Japan (BOJ) is trying a new tack: incentivizing them with bonuses. Talk about a language that bankers can understand, even in aging, hyper-conservative Japan.…

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