New article by Markus Heckel on Japan’s fiscal policy
DIJ economist Markus Heckel has contributed an article on Japan’s monetary and fiscal policy to the latest issue of Japanmarkt, the German-language quarterly published by the German Chamber of Commerce and Industry (AHK) in Japan. The Corona pandemic has caused a global economic standstill and also the Japanese economy has weakened since the beginning of the crisis. The Japanese government and central bank have therefore launched huge economic stimulus and aid programmes. In “Japans Geld- und Fiskalpolitik im Spiegel der Corona-Pandemie” (Japan’s Monetary and Fiscal Policy in the Light of the Corona Pandemic), Markus explains how the Bank of Japan and the Japanese government have coordinated their monetary and fiscal policies. He also analyzes risks and side effects of Japan’s debt problems and its ultra-loose monetary policy. The full article is available for download here. It draws on Markus’ ongoing research project Economic Discourses of Monetary Policy – The Case of the Bank of Japan.