Japan’s Economic Policy Management since the Beginning of the Twenty-First Century

This chapter summarises the views the author as an independent economist since the beginning of the twenty-first century has expressed in Japan and abroad on how Japan should overcome prolonged deflationary trends following the bursting of its bubble in the early 1990s. It reveals the contacts which the author with a perspective of a former OECD Chief Economist made with several influential foreign central bankers to promote the international understanding about the need to correct the excessively high yen exchange rate to help ease deflationary pressure in Japan, while arguing for the exceptionally aggressive easing of the Bank of Japan’s monetary policy.