Occasional CEE Seminar: Sayuri Shirai

Occasional CEE Seminar

28 February 2012, at 11:00

Rectorate Conference Hall

Boğaziçi University, Istanbul

Sayuri Shirai,  Bank of Japan

“Opportunities and Challenges of Japan and the Bank of Japan”

Abstract:

Over the past five years, Japan faced two large shocks; (1) the Global Financial Crisis of 2008-10, and (2) the Great Earthquake (the biggest earthquake ever recorded in the Japanese history), followed by the associated nuclear power plant accident. The seminar will begin with the introduction of Japan’s basic economic features in comparison with China.  It will subsequently describe the impact of those shocks on the Japanese economy and financial/capital markets, in addition to its difference from those of the United States and Europe.  Finally, the seminar will discuss about monetary policy responses to the two shocks, as well as the challenges associated with the so-called “non-traditional” monetary policy measures that have been adopted by the central banks under the near zero interest rates (such as the Bank of Japan and the Federal Reserve Board).