World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Japan’s No. 1 Reflationist Does a Victory Dance
Keywords:
Kozo Yamamoto joined the Finance Ministry in 1971, and is serving his sixth term as member of Japan's parliament. Since 2011 Yamamoto has convinced Abe, a colleague in parliament, about the need for reflationist policies now called Abenomics. This helped Abe make a comeback win for the prime minister's position for a second time. Yamamoto led the study group that convinced Abe of the need to delay the second increase in the consumption tax to 2017, and a 3 trillion yen stimulus package to encourage household spending, following the economy's fallback into a recession in Nov. 2014. He says it was important to not add to the headwinds the economy is facing. Yamamoto does not fall into the conservative mold of people from the Finance Ministry, as he takes tango lessons, is interested in fine pottery, and in Italian cooking. He has called bureaucrats in the ministry and central bankers "feckless" and "defiant," after years of questioning them in parliament and demanding reflationist policies. With the snap election in December 2014 the Abe led LDP is taking on the conservative Finance Ministry officials, who have insisted on sticking with the old timetable for the tax increase, regardless of the headwinds and slowing exports.
Kozo Yamamoto and the decision by prime minister Abe to delay a second increase in the consumption tax to 2017
11/20/2014
Kozo Yamamoto is Cornell University graduate who joined Japan's Finance Ministry in 1971 and is serving his 6th term in Japan's parliament. He became close to Abe after 2011 and convinced Abe that Japan needed reflationist policies to return to growth. He passed on his study group's advice to delay the second consuption tax increase from 8 to 10% from 2015 to 2017, by which time said Yamamoto Japan will have reached the 2% inflation target.
Grouped Articles
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
With Bad Economic News for Japan, Abe’s Magic Seems to Evaporate
New York Times 11/20/2014
There’s No Recession at Japan Inc.
Wall Street Journal 11/28/2014
Abe Backing Lukewarm, Even in Toyota’s Town
Wall Street Journal 12/11/2014
Japan’s Abe Secures Landslide Election Win
Wall Street Journal 12/16/2014
Japan’s Economy Expands, but Less Than Expected
New York Times 02/15/2015
Impact of increase in the consumption tax on the Japanese economy in 2014-2015
05/15/2014
Grouped Articles
Japan’s Growth Picks Up Sharply
Wall Street Journal 05/15/2014
Wall Street Journal 05/21/2014
Japan Takes a Consumption Tax Dive
Wall Street Journal 08/14/2014
Japan’s Abe Poised to Take Election Gamble
Wall Street Journal 11/17/2014
A Sudden Schism Between Shinzo Abe and the Bank of Japan Governor
New York Times 11/19/2014
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
Japan's GDP growth and the proposed increase in the consumption tax- 2013-2014
06/11/2010
The proposed increase in the sales tax to 10% to improve the Japanese government finances and the problems posed by lower GDP growth in the second quarter of 2013. The risk of derailing the economic recovery and the fight against deflation by a premature increase in the sales tax.
Grouped Articles
Economic Expansion Slows Down in Japan
New York Times 08/11/2013
Abe Set to Proceed With Tax Increase in Japan
Wall Street Journal 09/12/2013
Japanâs Prime Minister Warns That Debt Could Bring a Crisis Like That of Greece
New York Times 06/11/2010
Japan's Kan Plans Major Tax Increase
Wall Street Journal 06/16/2010
Prime Minister Noda says tax hike essential for Japan's sustainability - The Washington Post
Washington Post 03/04/2012
Japan’s Growth Slows, Raising Concerns About Obstacles That Lie Ahead
New York Times 02/16/2014
Differences between prime minister Abe and Kuroda of the Bank of Japan on Abe's decision to delay an increase in consumption tax to 10% in 2015
11/19/2014
Grouped Articles
A Sudden Schism Between Shinzo Abe and the Bank of Japan Governor
New York Times 11/19/2014
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
With Bad Economic News for Japan, Abe’s Magic Seems to Evaporate
New York Times 11/20/2014
There’s No Recession at Japan Inc.
Wall Street Journal 11/28/2014
Japan's decision for increase of the consumption tax from 5% to 10% in 2014
03/04/2012
Grouped Articles
Prime Minister Noda says tax hike essential for Japan's sustainability - The Washington Post
Washington Post 03/04/2012
Japan’s Growth Picks Up Sharply
Wall Street Journal 05/15/2014
Wall Street Journal 05/21/2014
Japan Takes a Consumption Tax Dive
Wall Street Journal 08/14/2014
A Sudden Schism Between Shinzo Abe and the Bank of Japan Governor
New York Times 11/19/2014
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
Japan's snap election in December 2014 on Abenomics and a strategy to fight deflation
11/18/2014
Prime minister Abe overrules the Finance Ministry by delaying an increase in the consumption tax fom 8 to 10% in 2015. He calls a snap election for 2015. This WSJ editorial says Japan has tried the Finance Ministry's ideas for fiscal spending increases coupled with tax increases without success in fighting deflation, prime minister Abe now needs to get the third arrow of structural reform right and take supply side actions.
Grouped Articles
Wall Street Journal 11/18/2014
Calling Early Elections in Japan, Abe Rolls the Dice on the Economy
New York Times 11/18/2014
A Sudden Schism Between Shinzo Abe and the Bank of Japan Governor
New York Times 11/19/2014
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
Nevermind Japan’s Recession Talk. Abenomics Is Working
Wall Street Journal 11/20/2014
With Bad Economic News for Japan, Abe’s Magic Seems to Evaporate
New York Times 11/20/2014
Abenomics advisers Yamamoto and Hamada, and Japanese prime minister Abe's decision in Nov. 2014 to challenge the Finance Ministry's views
11/20/2014
Abe calls for a snap election in Dec. 2014 after delaying the second increase in the consumption tax from 8% to 10% in 2015. About 53% of the Japanese public opposed the doubling of the consumption tax by 2015 in 2011 poll as the DPJ party Noda administration pushed for it on the advice of the Finance Ministry. Now after the 3rd quarter showed Japan in a recession over 70% of the Japanese public oppose a second increase in the consumption tax to 10% from 8% in 2015. Abenomics advisors Hamada and Yamamoto now say this increase in the tax (especially when wages are only gradually increasing) was never a part of the Abenomics.
Linked Articles
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
With Bad Economic News for Japan, Abe’s Magic Seems to Evaporate
New York Times 11/20/2014
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us