Eisuke Sakakibara: Why inflation targets wont work

INTERVIEW - Those who advocate inflation targets have not presented any convincing scenarios of how inflation targeting would cause the prices of goods and services to increase. Setting an inflation target without laying out such a scenario would be counterproductive says Eisuke Sakakibara, a former vice minister of finance for international affairs in an interview, declaring that inflation targeting won't stop Japan's deflation, which he says is a product of structural changes in the economy

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