The Death of the Central Bank

There's nothing more the BOJ can do to save Japan.

Kuroda is out of ammo.

Photographer: Kiyoshi Ota/Bloomberg

For the past 70 years, Japan has been a crucible of experimentation in economic policy. During its go-go years, Tokyo’s unusual practices to spur rapid growth became a model for much of the rest of Asia, while its unconventional attempts to revive its post-bubble economy have helped economists understand what should and could be done to recover from financial crises.

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