Matsuyama’s Paper among 50 Most Cited in Journal of Economy Theory’s History
Chief Scientific Adviser Matsuyama Appointed Resident Scholar of Chicago Fed
COVID Infections Appear to Follow Two-Month Cyclical Pattern, Kenji Shibuya Tells Washington Post
The Washington Post quoted Research Director Kenji Shibuya as saying that the recent decrease in COVID-19 cases in Japan suggests that the “virus may be moving in a cyclical pattern of a roughly two-month period of peaking and ebbing.”
The epidemiology expert pointed out that even without a full, draconian lockdown in Japan, people were very stringent “about wearing masks and social distancing.” Shibuya noted that the severity of the pandemic in each country may hinge on the “very complicated interactional role” of seasonal, human, and viral factors.
The decrease in Japan, he added, might be due to unknown characteristic about the virus, given that “social interactions never quite stopped” in Japan. “We need to look into the endemic phase of covid now,” he said.
“Japan and South Korea Never Did Full Lockdowns. It Left Lessons on How to Coexist with the Virus.” Washington Post
https://www.washingtonpost.com/world/asia_pacific/coronavirus-japan-south-korea-covid/2021/10/20/77a3273c-2d11-11ec-b17d-985c186de338_story.html
BOJ’s Kuroda Distorted Financial Market, Hayakawa Says
Haruhiko Kuroda became the longest-serving governor of the Bank of Japan in September. As the architect of a massive monetary-easing policy, the central bank governor has been lauded by many for rectifying an overvalued yen and attracting overseas investors.
But Senior Fellow Hideo Hayakawa points out that Kuroda “had no Plan B in case he failed to achieve the 2-percent [inflation] target.” As a result, the BOJ “ended up having to keep buying a tremendous amount of assets,” Hayakawa said. “The bank has distorted the market, which is a bigger worry.”
“BOJ’s Longest-Serving Governor: The Impact of ‘Different Dimension’ Monetary Policy,” NHK-World
https://www3.nhk.or.jp/nhkworld/en/news/backstories/1789/
Parties in a “Race for Redistribution without Funding,” Morinobu Says
With a lower house election scheduled for October 31, both the ruling and opposition parties are appealing to voters with their income redistribution and expansionary fiscal measures. The manifestos of both call for “a mix of policies for times of emergency (amid the coronavirus crisis) and for ordinary times,” Research Director Shigeki Morinobu, told Jiji Press.
“In ordinary times, the government should draw a path to eliminating anxiety about the future through redistribution funded with stable resources,” Morinobu said. “What's going on right now is a race for redistribution without funding.”
“Ruling and Opposition Blocs Appeal for Votes with Income Redistribution Plans,” Japan Times
https://www.japantimes.co.jp/news/2021/10/20/business/ruling-opposition-redistribution-election-japan/
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