Words of wisdom from Bank of Japan

There are some excellent speeches from BoJ Governor Masaki Shirakawa recently.

1. “Uniqueness or Similarity? — Japan’s Post-Bubble Experience in Monetary Policy Studies –”
   Keynote Address at Second IJCB Fall Conference hosted by the Institute for Monetary and Economic Studies 
2. “Roles for a Central Bank — Based on Japan’s Experience of the Bubble, the Financial Crisis, and Deflation –”
   Speech at the 2010 Fall Meeting of the Japan Society of Monetary Economics

Why do sovereigns repay their debt?

IMF Sep-10  Research Bulletin has interesting discussions as always.  

The one on sovereign debt and default is very interesting. It is written by Emine Boz of IMF.

Do Large-Scale Asset Purchases impact inflation expectations?

Yes they do. The impact is not much but still it has some powers to raise inflation expectations.