"A policy wrong of Bank of Japan afflicts the industrial world with people" -. Leader of economics field
) Governor of the Bank of Japan (60) is scolded in the letter of opening to the public, and it gets into the news in financial circles ..the former pupil U.S. large professor ..Koichi Hamada.. Yale (74).. ..Shirakawa Cata (...
After it is alerted, "The vitality of the Japanese economy is lost more and more by unemployment and new graduate's difficulty of finding employments", Mr. Hamada is advising the policy that Bank of Japan should take.
The letter of opening to the public is collaboration by Kazuyo Katsuma Mr. Hamada, Masazumi Wakatabe, professor of Waseda University Department of Political Sciences and Economics, and economic analyst. 『Learn to the professor of the legend. Book to understand true economics』(sale on the Orient economic Shinpo company publication and 24 this month)It is published at the beginning drinking.
Mr. Hamada taught economics to Mr. Shirakawa who was the seminar life in 1970 in the age of the assistant professor of Department of Economics at The University of Tokyo.
Mr. Hamada : to the coverage of Yukan Fuji. ｢International finance might have been taught. Shirakawa was able to do preeminently especially ..that.. though the seminar life of the age was excellent. ｣It turns around.
Mr. Hamada grieves dyeing Mr. Shirakawa who was the pupil to "Bank of Japan flow theory".
It is possible and ..Mr. Hamada.. ..getting rid of by monetary easing the deflation.. insists though the idea "The deflation cannot be gotten rid of by the monetary policy" in Bank of Japan is persistent. The theory of such a Bank of Japan style is criticized when far apart from the theory of standard economics of the world.
It is correspondence that Mr. Hamada enumerates it as a concrete example of the failure of the policy of such Bank of Japan after the Riemann shock in September, 2008. Bank of Japan has hardly changed the monetary policy while every country in the world advanced the monetary easing.
As a result, the industry of the fiber etc. in not only the export industry such as cars but also the downfall of the price of imports invites the strong yen, becomes aggravated more the deflation, and when price competitive ability is lost, and it gave birth to unemployment and new graduate's difficulty of finding employments, criticizes made in Japan goods.
In the letter of opening to the public《Bank of Japan has the policy instrument to be able to confront these difficulties of monetary policy enough. As for Bank of Japan, I would like you to be conscious of the torment of Bank of Japan of the industrial world not trying to perceive it, and without giving people the medicine that can be used with people. 》It scolds.
As a policy that Bank of Japan should take
(1)The treasury bill not only is purchased but also the debenture and the share, etc. are substantially purchased the long-term government bond and according to circumstances.
(2)Bank of Japan must take the policy of not setting off a domestic effect when Ministry of Finance does the intervention that buys dollar assets.
-It is assumed as correspond (1) realistic to enumerate it.
It is possible to look for a strong sense of crisis from the letter to the Japanese economy etc.Mr. Hamada reveals the reason around of that as follows.
｢I also remember a hungry age of postwar days, and neither the unemployment nor the bankruptcy are persons. Having given birth to the generation is not a coincidence. experienced the great depression by Paul Anthony Somuelson, Milton Friedman, and a large economist in ..Tobin et al... the world｣
It sends it to the executive of ..Shirakawa governor.. Bank of Japan in Toyo Keizai Shimposha of the publisher on the 22nd of two sale Hikuma the new publication that publishes the letter of opening to the public.
Finally, Mr. Hamada talked so.
「, from the standpoint of people who suffer to the deflation and the depression because it is a governor ..not intelligent (so niece)(Shirakawa).. It wishes the retrenchment monetary policy that is the cause (Bank of Japan) to be renewed. 」
- Koichi Hamada (and so Ichi)74 ..birth in January, 1936.. years old. Department of Economics graduation of Department of Law at The University of Tokyo. To the distinguished family and the professor of Yale Department of Economics in the United States through the professor of Department of Economics at The University of Tokyo.
Government and academic circles' such as heads of Cabinet Office economic society General Institute and the chairman, laws, and chairman of Economics Association of Japan Association of Economics and Econometrics (present Japanese Economic Association) important positions are held successively. There is worldwide bottom line in the field of the international finance theory.
- 60 ..birth in September, 1949.. ..Shirakawa Cata (.. years old ..and)... After it graduates from Department of Economics at The University of Tokyo,, the Director for Plans of Planning Section, the financial research center ..doing.. councilor of the insertion, the deliberation post, and the director (monetary policy charge) etc. are held successively to Bank of Japan in April, '72.
The vice president of Bank of Japan and the governor human affairs assume the position from the vice president of the governor in the Diet through the professor etc. of the Kyoto University public policy graduate school in April of Dou of straying in March, 2008.
http://www.zakzak.co.jp/economy/ecn-news/news/20100617/ecn1006171613000-n2.htm
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