Sayuri Shirai is a professor at Keio University and a former policy board member of the Bank of Japan. She is a Central Banking contributing editor and author of Mission incomplete: reflating Japan’s economy.
Articles by Sayuri Shirai
Can new BoJ governor Ueda maintain his neutral position?
Kazuo Ueda will face divided views on monetary easing and its growing side-effects when he takes office, writes Sayuri Shirai
Book notes: Yellen, by Jon Hilsenrath
Offers new insights into the tough decisions Yellen has made as a pre-eminent economic policy-maker
Is there a case for a retail CBDC in Japan?
A BoJ-managed, account-ledger ‘digital yen’ tied to the new Kotora payments may offer some potential
BoJ unlikely to move policy to counter yen weakness
Bank wary of raising rates or increasing its yield control target, writes Sayuri Shirai
MMT and the challenge of fiscal monetary co-ordination
Sayuri Shirai contrasts modern monetary theory with regimes of monetary or fiscal dominance
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines, says Sayuri Shirai
ESG investment must grow to achieve zero carbon emissions
Action is needed to scale up green investment and tackle information issues, writes Sayuri Shirai
The Bank of Japan must adjust its monetary policy
Sayuri Shirai says the central bank needs to make its policy more sustainable
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved
Should the Fed be next to implement yield curve control?
RBA joins BoJ in effort to control longer-term rates
The Tokyo Olympics: downside risks prevail
BoJ’s latest stimulus effort seems to be weak, and comes at a time when benefits of hosting Olympics may be overstated
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy
Demand for cash remains solid in many parts of the world
Sayuri Shirai re-examines the decline of cash use worldwide
Do stablecoins like libra differ from other crypto assets?
Sayuri Shirai assesses the implications of stablecoins for stability, monetary policy and regulation
Putting modern monetary theory to the test
Sayuri Shirai asks whether MMT might hold the solution to Japan’s stagnation
Motivations and prospects for central bank digital currency
Sayuri Shirai surveys the many forces driving increased interest in CBDC
What next for the BoJ’s unprecedented ETF experiment?
Exiting the policy may prove extremely challenging, says Sayuri Shirai
A mere tweak or a step toward normalisation?
Sayuri Shirai says the BoJ has controlled market expectations while still opening the door to normalisation
BoJ looks set to cut its inflation forecast – again
There is no exit in sight for the Bank of Japan as inflation is likely to disappoint yet again, warns Sayuri Shirai
Alternatives to Japan’s 2% flexible inflation target
BoJ may review its framework due to ongoing failure to hit 2%
Japan’s ineffective efforts at monetary easing
The failings appear to be related to effectiveness, rather than scale
The BoJ’s exit policy and balance sheet risks
Meticulous sequencing of events needed to ensure sustainability
BoJ faces growing communications challenge
BoJ embarks on third attempt at unlimited fixed-rate outright JGB purchases
The BoJ’s risky yield curve control experiment
Current objectives are muddled, writes former policy board member