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Tumultuous Times – Central Banking in an Era of Crisis - Yale Scholarship Online
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Tumultuous Times: Central Banking in an Era of Crisis

Masaaki Shirakawa


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

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


Affiliations are at time of print publication.

Masaaki Shirakawa, author
Aoyama Gakuin University

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Front Matter

Part 1 Career Building at the Bank of Japan

Part 2 The Days as Governor

Part 3 The Roles of the Central Bank