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.

The latest issue of Contemporary Japan is now available online and in print. Articles in CJ 33(1) cover Nikkei Brazilian migrants in Japan and their use of online platforms to stay connected (by Rumika Suzuki Hillyer), war memories and Japanese citizens’ views toward the self-defense forces (by Satoshi Machida), English language education and national identity (by Damian J. Rivers), and the nuclear power debate in Japanese newspapers, 1973–2014 (by Tobias Weiss). This issue also features a Review Article of Kanamori Osamu (金森修) and the history and philosophy of science in Japan by Hansun Hsiung. Plus: three reviews of recently published books on the Soka Gakkai, the anime boom in the United States, and professional baseball in modern Japan. Please see the full issue here

Double Debt Disaster by Julius Weitzdörfer and S.J. Beard is latest volume published in our DIJ Miscellanea series. It offers a detailed examination of obstacles to recovery from catastrophes caused by the concurrence of pre-disaster obligations with post-disaster capital needs and the destruction of collateral assets. The convergence of growing risk from natural hazards, coupled with ever-higher levels of public and private indebtedness will soon propel the quest for micro-and macro-economic policy solutions to global attention. No case is more instructive for understanding these problems than the Great East Japan Earthquake. In its wake came a second disaster, as former home-owners and businesspeople found themselves in need of loans to rebuild and invest, while being unable to pay off pre-disaster debts. Treating issues of property-, insurance-, debtor-creditor-, social welfare-, charity-, financial-, and insolvency law, this volume examines Japan’s double debt disaster from the perspective of social justice and disaster recovery. It proposes that policymakers take sustainable steps to avoid socioeconomic disasters. More details and link to download the PDF here.

DIJ research fellow Barbara Geilhorn has contributed the chapter “Genjitsu wo henyō saseru fikushon. Okada Toshiki no engeki kara kore kara no nihon shakai wo yomitoku” (Fiction that transforms reality: understanding the future of Japanese society through the plays of Toshiki Okada) to a new book publication on post-3.11 literature. Barbara’s chapter in Sekai bungaku toshite no ‘shinsaigo bungaku’ (‘Post-disaster literature’ as world literature) discloses the political potentialities of theatrical space through an in-depth evaluation of two post-‘Fukushima’ plays by Okada Toshiki, who gained reputation for his socially engaged theatre. While Unable to See (2012) is a harsh satire, written for a foreign audience, Current Location (Genzaichi, 2012) addresses the fear of nuclear threat from the perspective of Tokyo inhabitants as science fiction. The chapter scrutinizes the significance of Okada’s recent concept of fiction as ‘recessive reality’ and argues for a major turning point in his work as triggered by the catastrophe. Barbara’s chapter is a result of her ongoing research project Local Issues Take Stage – Culture and Community Revitalization.