Koichi Hamada
Koichi Hamada, Special Economic Adviser to Japanese Prime Minister Shinzo Abe, is Professor Emeritus of Economics at Yale University and at the University of Tokyo.
Koichi Hamada, Special Economic Adviser to Japanese Prime Minister Shinzo Abe, is Professor Emeritus of Economics at Yale University and at the University of Tokyo.
Like Aesop’s boy who cried wolf, the Japanese authorities have lost credibility, at least when it comes to the threat of intervention in currency markets. As a result, speculators remain convinced tha… read more
It is no secret that excessive public debt weighs down an economy, leaving it vulnerable to shocks. But just as a fast-moving cyclist cannot simply stop pedaling, governments cannot suddenly halt all … read more
The world economy is struggling with persistently weak aggregate demand, below-target inflation, and slow or no growth. But these conditions, however troubling, should not lead central bankers to impl… read more
On February 16, the Bank of Japan joined the ECB, the Swiss National Bank, and others in adopting negative interest rates on deposits. Though the move immediately pushed the interest-rate structure lo… read more
China’s leaders are at a crossroads. They must decide whether to continue trying to control the economy, as they did after the summer's stock-market crash, or to follow through on their promise to bui… read more
If ratified and implemented, the just-agreed Trans-Pacific Partnership will have a monumental impact on trade and capital flows along the Pacific Rim, with massive benefits for all 12 countries involv… read more
In a planned economy like China’s, where policymakers use various tools to influence asset prices, the instability that arises from overvalued assets could, in theory, be avoided. But, in practice, th… read more
Fears of currency manipulation have driven many observers to call for the inclusion in free-trade agreements of provisions prohibiting exchange-rate intervention. But such an approach would controvert… read more
European countries may join the AIIB to deepen their business and political ties with China, but their financial stakes in the outcome are limited. Japan, however, has much to lose if the AIIB does no… read more
