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Leika Kihara — BOJ chief rejects idea of Japan as ‘Modern Monetary Theory’ model

Summary:
Some fans of MMT have cited Japan as a success case, saying Tokyo has been able to boost fiscal spending without causing inflation as the central bank keeps the government's borrowing cost ultra-low through its massive stimulus programme.  Kuroda said Japan was not resorting to MMT, as the government commits to getting the country's fiscal house in order. "Japan has deployed economic stimulus policies. But the government believes it's important to restore fiscal health and make fiscal policy sustainable," Kuroda said. "It's wrong to say Japan is resorting to MMT."... He obviously doesn't understand MMT, only a caricature of it. NASDAQBOJ chief rejects idea of Japan as 'Modern Monetary Theory' modelLeika Kihara, Reuters

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Some fans of MMT have cited Japan as a success case, saying Tokyo has been able to boost fiscal spending without causing inflation as the central bank keeps the government's borrowing cost ultra-low through its massive stimulus programme. 
Kuroda said Japan was not resorting to MMT, as the government commits to getting the country's fiscal house in order.
"Japan has deployed economic stimulus policies. But the government believes it's important to restore fiscal health and make fiscal policy sustainable," Kuroda said. "It's wrong to say Japan is resorting to MMT."...
He obviously doesn't understand MMT, only a caricature of it.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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