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A sideways look at economics

Japanification, bring it on

21 February 2020|

In his 1999 paper: ‘Japanese Monetary Policy: A Case of Self-Induced Paralysis?', Ben Bernanke stated: “I tend to agree with the conventional wisdom that attributes much of Japan’s current dilemma to exceptionally poor monetary policy-making over the past fifteen years”. In 2006, Bernanke was appointed as Fed Chair, where he remained through the Great Financial Crisis and the transition into the low-rate, Japan-style new normal thereafter, until 2014. The kind of finger-wagging that bien-pensants like Bernanke were directing at Japan in the late 1990s is now, rightly, being

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