Werner, Richard A.
Central banks - don't listen to what they say - watch what they do.
PDF (Article submitted to but not not published in the Financial Times on 29 Aug. 1999)
The Bank of Japan refuses to create a recovery, although it could easily implement the necessary policies. Its arguments are erroneous, and it seems that it has chosen to prolong the recession in order to advance its political agenda of fundamental structural reform of the Japanese economy. This article was submitted to but not published in The FINANCIAL TIMES on 29 August 1999 to appear as a 'Personal View' column.
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