Can Abenomics Succeed? Overcoming the Legacy of the Lost Decades

2019-03-27T18:23:10-04:00April 1, 2015|

Changyong RheeBy Changyong Rhee

(Versions in 日本語)

Abenomics can succeed, despite recent setbacks to growth and inflation, in revitalizing Japan by making steadfast progress on all three of its arrows equally and simultaneously, as we show in our new book. This is also essential to avoid an undue weakening of the yen and ensure positive spillovers to Japan’s neighbors, its region, and the global economy.

The Legacy: Structural Changes During the Lost Decades

Most Japan followers will be familiar with the following striking statistic: in […]

Observations on the Evolution of Economic Policies

2017-04-15T14:27:35-04:00March 25, 2011|

It was a privilege to participate in the IMF conference devoted to rethinking policy frameworks in the wake of the crisis. Highly encouraging was the openness of the discussion, the range of views, the willingness to question orthodoxy, and the posture of humility. One gets the impression that the crisis triggered the response that it should. We have embarked on a path of rethinking conceptual frameworks and policy choices in a way that will contribute to the stability of the system. Returning to old patterns, while waiting for different or more complete models to be developed and tested, would be a risky mistake. Here, I offer five thoughts stimulated by the spirit of the conference, as a contribution to the broader discussion that we all hope might stimulate further research and policy analysis. And, ultimately, progress.
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