Faculty
Resilience Studies Endowed Chair Adjunct ProfessorEtsuro HONDA
- 【Specialized Fields】
- Public Finance, Monetary Policy, International Finance, Public Policy
- 【Background】
- Engaged in fiscal and monetary policy, as well as economic support for developing countries at the Japanese Finance Ministry. Then, assigned as “Special Advisor for the Prime Minister” to normalize the economy through the policy package called “Abenomics” in 2012.
- 【Publications】
- “The Truth in Abenomics” Gentosha, 2013
“Financial Deregulation in Japan” Japan & the World Economy, 2003
“Consumption Tax Hike Should Be Frozen” Monthly Seiron, 2016
- 【Message】
- The market economy contains the stabilization function itself, but if the demand shortage is left unrectified for a substantial length of time due to the policy failure, people’s expectation of inflation for the future could be diminished, which would cause the vicious cycle of the distressed demand and structural problems of deflation. The deflation problems in Japan have to be overcome by drastic measures to change the mindset of the people. This is the essence of so-called “Abenomics”. The policy measures have to be the most suitable for the purpose.