Tumultuous Times: Central Banking in an Era of Crisis
Masaaki Shirakawa
Abstract
The Japanese economy, once the envy of the world for its dynamism and growth, lost its shine after a financial bubble burst in early 1990s and slumped further during the Global Financial Crisis in 2008. It suffered even more damage in 2011, when a severe earthquake set off the Fukushima Daiichi nuclear disaster. However, the Bank of Japan soldiered on to combat low inflation, low growth, and low interest rates, and in many ways it served as a laboratory for actions taken by central banks in other parts of the world. This book provides a rare insider's account of the workings of Japanese econom ... More
The Japanese economy, once the envy of the world for its dynamism and growth, lost its shine after a financial bubble burst in early 1990s and slumped further during the Global Financial Crisis in 2008. It suffered even more damage in 2011, when a severe earthquake set off the Fukushima Daiichi nuclear disaster. However, the Bank of Japan soldiered on to combat low inflation, low growth, and low interest rates, and in many ways it served as a laboratory for actions taken by central banks in other parts of the world. This book provides a rare insider's account of the workings of Japanese economic and monetary policy during this period and how it challenged mainstream economic thinking.
Keywords:
Japanese economy,
Global Financial Crisis,
Fukushima Daiichi disaster,
nuclear disaster,
Bank of Japan,
Japanese monetary policy,
Japanese economic policy
Bibliographic Information
| Print publication date: 2021 |
Print ISBN-13: 9780300258974 |
| Published to Yale Scholarship Online: January 2022 |
DOI:10.12987/yale/9780300258974.001.0001 |
