Abenomics: Could This Time Be Different?
Abenomics, the term coined for Prime Minister Abe’s economic policies, is comprised of three pillars: aggressive monetary easing; fiscal stimulus; and a strategy for growth. At its current stage of implementation, some proactive monetary policy moves by the Bank of Japan and expectations of more to come have led to a weaker Yen and a strong rally in the stock market. However, it remains to be seen how effective the BOJ's new policy thrust will be and how the remaining two pillars of Abenomics will be implemented.
Expectations of Japan getting out of deflation and experiencing stronger growth have been raised before, only to be subsequently dashed. Will this time be different and, if so, why? Will Abenomics be the lasting salve for Japan’s economic woes, or will it be just another short-term fix? In this corporate luncheon, Paul Sheard, Chief Global Economist & Head of Global Economics and Research, Standard & Poor’s and Nathan Sheets, Global Head of International Economics, Citi, offer their observations and analysis of Abenomics and Japan’s economy after the appointment of the Bank of Japan’s new Governor and Vice-Governors.
Paul Sheard, Chief Global Economist & Head of Global Economics and Research, Standard & Poor’s
Nathan Sheets, Global Head of International Economics, Citi
Kim Schoenholtz, Professor of Management Practice, Department of Economics; Director, Center for Global Economy and Business, Leonard N. Stern School of Business, New York University
You will need Adobe Flash Player to view the webcasts, please click here to download Adobe Flash Player.