tag:blogger.com,1999:blog-5713178645208582139.post7214009201452766142..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: Abenomics UpdateDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-5713178645208582139.post-17867005877498837162017-11-30T05:36:06.568-06:002017-11-30T05:36:06.568-06:00Very good post, David.
Also, I read, enjoyed readi...Very good post, David.<br />Also, I read, enjoyed reading, and agreed with your paper on permanent vs temporary monetary expansion. In this regard, you may be interested (and I'd really like to invite you to read and have your views on) this piece of a couple of years back: http://archive.economonitor.com/blog/2015/09/Biagio Bossonehttps://www.blogger.com/profile/12192990143588037522noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-12206408890747546512017-11-29T17:47:23.634-06:002017-11-29T17:47:23.634-06:00David,
Are you saying that if we visited the fina...David,<br /><br />Are you saying that if we visited the financial district in Tokyo and spoke to the folks working there they would actually say to you the words "We believe BOJ's expansion of the monetary base is only temporary, we expect it will eventually be almost completely unwind, and we have adjusted our trading behavior accordingly". <br /><br />In other words, is the JoeMachttps://www.blogger.com/profile/12650518988624821388noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-90401821799940221422017-11-29T13:12:57.351-06:002017-11-29T13:12:57.351-06:00Tomo, if the monetary injections were made perman...Tomo, if the monetary injections were made permanent then they would not need to be so large. The fact that they are so large indicates they are temporary. David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-69154344250319610172017-11-29T03:20:38.321-06:002017-11-29T03:20:38.321-06:00I found some serious factual errors.
8% consumptio...I found some serious factual errors.<br />8% consumption tax was hiked in April 2014, and Kuroda BOJ's Halloween Bazooka was fired in Oct. 2014.<br /><br />Sorry about the errors.<br /><br />Tomo NakamaruKorekiyo Lettershttps://www.blogger.com/profile/14968444065533026624noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-58564911384382161612017-11-29T02:16:53.787-06:002017-11-29T02:16:53.787-06:00Thank you for your nice update of Abenomics.
Li...Thank you for your nice update of Abenomics. <br /> <br />Like you, I was also a early proponent of Abenomics, and like you, I am now a critic of Abenomics, particularly after 8% consumption tax hike (April 2016), and Kuroda BOJ’s Halloween bazooka(Oct. 2016).<br /><br />I am also in favor of your suggested NGDP targeting policy in general.<br /><br />I am not sure, however, if permanent Korekiyo Lettershttps://www.blogger.com/profile/14968444065533026624noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-7215949021330961872017-11-28T21:27:06.526-06:002017-11-28T21:27:06.526-06:00Add on: If the Bank of Japan tomorrow indicated it...Add on: If the Bank of Japan tomorrow indicated it would hold onto its balance sheet through maturity, would that result in inflation in Japan? Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-66171856567031144792017-11-27T21:14:07.329-06:002017-11-27T21:14:07.329-06:00David:
I really enjoyed the excellent paper "...David:<br /><br />I really enjoyed the excellent paper "Permanent versus temporary…."<br /><br />But back to Japan, it is there any sense the Bank of Japan will ever sell off its balance sheet? I sure detect none. Does that make the monetary expansion permanent or not, or fall into a grey zone? <br /><br />Adair Turner suggests the BoJ will never sell its balance sheet. <br /><br />BTW,Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com