by Elif C. Arbatli, Steven J. Davis, Arata Ito, Naoko Miake, Ikuo Saito via Cato Institute
Efforts to reinvigorate Japan’s economy have proved challenging. Despite significant policy accommodation, growth over the past two decades has been weak and the share of nonregular employment has increased. Wages have been stagnant, and inflation expectations lie below the Bank of Japan’s inflation target.