Unconventional Monetary Policy in Japan: Comparison with Europe and Implications on Asia

Dr. Sayuri SHIRAI is currently a professor of Keio University and is also a visiting scholar at the Asian Development Bank Institute. She was a Member of the Policy Board of the Bank of Japan (BOJ) from April 2011 to March 2016, who is responsible for making policy decisions. She also taught at Sciences Po in Paris in 2007–2008 and was an economist at the International Monetary Fund (IMF) from 1993 to 1998.

She is the author of numerous books on a variety of subjects including the People’s Republic of China’s exchange rate system, Japan’s macroeconomic policy, IMF policy, and the European debt crisis. Her most recent book (translated title: Unwinding Super-Easy Monetary Policy), published in August 2016, is about the monetary policies of the BOJ, the European Central Bank, and the Federal Reserve System. She regularly appears on CNBC, Bloomberg, Reuters, BBC, and features in many Japanese TV programs and newspapers, commenting on the Japanese economy and monetary policy. URL: http://www.sayurishirai.jp

Her most recent book in English is Mission Incomplete: Reflating Japan’s Economy published by the Asian Development Bank Institute in February 2017. It is a complete analysis of BOJ’s unconventional monetary easing from the late 1990s to the present. Free Download is available at https://www.adb.org/publications/mission-incomplete-reflating-japan-economy.