Articles by Sayuri Shirai
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