{"id":5390,"date":"2015-02-07T10:04:10","date_gmt":"2015-02-07T15:04:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5390"},"modified":"2015-02-07T10:04:10","modified_gmt":"2015-02-07T15:04:10","slug":"we-just-need-to-print-more-money-bank-of-japans-new-board-member-clarifies-endgame","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5390","title":{"rendered":"“We Just Need To Print More Money” Bank Of Japan’s New Board Member Clarifies Endgame"},"content":{"rendered":"

“We Just Need To Print More Money” Bank Of Japan’s New Board Member Clarifies Endgame<\/a><\/h3>\n

The Abe administration nominated a major proponent of reflationary (inflationary) monetary policy to the central bank\u2019s board<\/strong>, buttressing Governor Haruhiko Kuroda\u2019s efforts to save the nation from the dread of deflation.\u00a0As Bloomberg reports,<\/a>\u00a0economist Yutaka Harada, who will replace Ryuzo Miyao, has said\u00a0Japan can beat deflation by printing money<\/strong>\u00a0in a 2013 book “Reflationary Policy Revives Japan\u2019s Economy.” So far that is not working so try harder…\u00a0\u201cThe nomination is a good news for Kuroda… he will keep a majority on the board and win what he wants.”<\/em>\u00a0Why such good news? As deputy director at the finance ministry\u2019s Policy Research Institute, Harada exclaimed,\u00a0“we just need to print money.”<\/strong><\/p>\n

As Bloomberg reports<\/em><\/a>,\u00a0\u201cHarada has been a well-known monetarist and a strong supporter on quantitative easing,\u201d<\/strong>\u00a0Masaaki Kanno, an economist at JPMorgan Chase & Co., wrote in a note…<\/p>\n

\n
In an interview with Bloomberg News in 2002, Harada said the central bank held the key to ending deflation, which began to grip the economy in the late 1990s as Japan stumbled into a recession amid a banking crisis.<\/div>\n

\u201cWe just need to print money,\u201d said Harada<\/strong>, who was a deputy director at the finance ministry\u2019s Policy Research Institute at the time.<\/p>\n

\u201cIf the BOJ buys all of the bonds from Japan\u2019s debt market, that will create inflation without a doubt. That\u2019s it,\u201d Harada said. \u201cDeflation will be over if the BOJ buys them under the condition that it would continue the purchases until 2 or 3 percent of inflation is achieved.\u201d<\/strong><\/span><\/p>\n

In 2012 paper published before Abe took office pledging to shake Japan out deflation with Abenomics,\u00a0Harada said the \u201cabsence of any real monetary policy\u201d had contributed to Japan\u2019s two decades of stagnation.<\/strong><\/p><\/blockquote>\n

*\u00a0 *\u00a0 *<\/p>\n

So far that’s not working out so great…<\/strong><\/span><\/a><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

“We Just Need To Print More Money” Bank Of Japan’s New Board Member Clarifies Endgame The Abe administration nominated a major proponent of reflationary (inflationary) monetary policy to the central bank\u2019s board, buttressing Governor Haruhiko Kuroda\u2019s efforts to save the nation from the dread of deflation.\u00a0As Bloomberg reports,\u00a0economist Yutaka Harada, who will replace Ryuzo Miyao, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,202,426,452,3302,534,538,3303],"class_list":["post-5390","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-deflation","tag-inflation","tag-japan","tag-karuhiko-kuroda","tag-monetary-policy","tag-money-printing","tag-stagflation"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5390"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5390\/revisions"}],"predecessor-version":[{"id":5391,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5390\/revisions\/5391"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}