Foreign Exchange Intervention and Monetary Policy in Japan RePEc Repec Form

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the the bigger picture is that in Japan we have a very severe labor shortage whatever Bank of Japan does they could raise the rates they could lower rates it doesn't make any difference at all that we have a very severe labor shortage and particularly in the service sector which has been booming because of the week Yen and the inbound boom of Tourism that's been going on in Japan and so wages are going up whether the small mediumsized firms want to pay right now or can pay uh or they can't pay uh wage W wages will be going up in Japan uh for the next foreseeable future uh this is what we've been saying it's structural it has nothing to do with monetary policy of Bank of Japan so uh yeah isn't that problem to that affect the prod productivity impact that you get for the small and medium firms then because what they're doing and we know this we've spoken about this as well before is that they're saying to their workers okay we can't pay more but work Less hours it could be I mean you kno