Fiscal Measures of the Central Bank of Japan - Essay Example

PART PAPER REVIEW: THE CENTRAL BANK OF JAPAN'S USE OF QUANTITATIVE EASINGAND INFLATION TARGETTING FROM 2000 TO 2006 INORDER TO REDUCE DEFLATION What is this paper about The paper is a popular article looking to presenting the fiscal measures undertaken by the Central Bank of Japan to countries the deflation faced by Japan during the 2000 - 2006 periods. The primary tools undertaken were the quantitative casing and inflation targeting. The paper also discusses the topic of deflation as a whole and finally the impact of the financial measures of the Central Bank of Japan on in the Japanese economy. 2. How well does the author do in addressing the above issue in the first few paragraphs The author approaches the paper with a clear statement of objective in his introduction. He opens out after that with a rather long description about deflation both in the introduction and then again in the second paragraph exclusively devoted to explaining the same (A serious error though is evident in the second page, line four, stating " Two main causes for deflation are stocks to aggregate supply and stocks to aggregate demand". On the contrary, deflation is marked by an aggregation of supplies, but demand does not. Barring this blemish, the explanations on deflation, its character, causes and effect are worthy of praise, considering its simplicity and subtle reasoning. Considering the background situation, the papers' comparison of the Japanese deflation and the Great Depression of US and the identification of the similarities is commendable. Backing it up with comparative data would have given more credibility to the argument. 3. How well do the sections in this paper exhibit a clear, logical organization The sections in the paper present a logical organization of the content to be described. Naturally, the introduction is followed by the description of the intended area of study, the primary tools of correction, their effect in countering deflation, and finally, the conclusion transgress in a clear and coherent way. The construction of the sentences and presentation of facts affects the clarity of thought, spoiling the understanding of the intended message. To cite an example, page three, second paragraph, first sentence states, "The money supply and money velocity did not decrease, however it did not immediately increase to make up for the shocks in the good and services market". Of course, the statement is true, but it could have been presented better. Say, the sentence could have been in this way, "Though the monetary supply and velocity was adequately maintained, it did not react immediately and increase to make up for the shocks in the goods and services market". It would have also made the next sentence more meaningful and continuous. This accentuates the easy understanding of the complex nature of the subject. 4. Do the paragraphs present Ideas clearly with one topic sentence per paragraph and all sentences supporting that topics sentence The paper is presented into paragraphs with clear and concrete ideas and the topical statement clearly complimented by the other sentences in the paragraph. There are quite a few repetitions amongst paragraphs due to ambiguous construction of sentences. 5. Evaluate the stapling, the typing and other physical attributes relative to a serious, professional effort by a bright graduate of a prestigious university. The physical attributes of the paper with respect to shaping and typing are good. However, the formatting could have been better like, say in the third page, the title of the third part along hangs at the bottom and so does the fourth in the fifth page. It could have been moved to the next page. The headings too are missing. Similarly, acronyms without abbreviation could have been avoided (e.g., WWI could have been written as World War II). More importantly, use of a professional way of expression could well do more good. Use of phrases like "the central bank was gambling" and redundant use of "they" might be avoided to prevent the tag of a casual and "popular" article to the paper. 6. Do the same for the spelling and the grammar. With respect to spelling and grammar, the paper haves a lot to be desired. Repeated spelling errors are an eyesore to this article especially to common terms like borrowing (mentioned as barrowing), trial (mentioned as trail), and debt (mentioned as dept). Redundancy is quite striking and evident with regular instances of repetition of statements having the same thought and meaning. 7. To what extent do the bibliography and / or empirical results give the appearance of serious research Are the references and / or tables clear and complete The references in the article are sufficient, considering the fact that it is paper intended to study the measures taken by an organization to control the economic crisis. It is more of a case study and hence the author has approached with relevant reference is required areas. But references which strengthen the paper with specific data on the deflation status in the beginning, the progression of deflation and the measures (with respect to the specific rate of interest and the projected inflation rates) and finally the result could have been presented. 8. How well does the author maintain a professional tone (For example, there should be no "stream of consciousness" lapses that suggest a hurried preparation.) The author professionally builds the presentation of the paper. However, the conclusion and argument put forward lacks the punch with the absence of sufficient data and representation of the chronology of events in the study period. This comes into contention because of the varying nature of the primary tools adopted. One is a aggressive way while the other is a long term process unsure of results. Their individual impacts would have given a great insight into contingency monetary control measures that can be adopted in the future. 9. What single element of this paper most needs improvement The content of the article is good. However, the presentation of the facts in an ambiguous way spoils the clarity of thought. Spelling, grammar, presentation and language go a long way in making a good article. This part needs improvement. 10. If you had important responsibilities in the business world and had just read this paper, would you be moved to include this person on your team Why or why not I would not include this person in my team. The reasons for which I do so is that I could sense carelessness and a hurried preparation of the article. Application and dedication precedes the knowledge of the person. PART 2 PAPER REVIEW: WHY EASTERN EUROPE SHOULD NOT YET ADOPT THE EURO 1. What is this paper about The paper is about the argument that, the East European states are not yet ready to be added to the euro zone. The paper discusses the criteria to adopt the Euro and how the East European nations are slackening the pace of progress of the European Monetary Union. 2. How well does the author do in addressing the above issue in the first few paragraphs The author opens with a brief history of the advent of a common European objective and the resultant formation of the European Union. He also clearly and smoothly puts forward his case, with respect to the east European states with an amicable citation of the Maastricht treaty, the legislation of the community regarding the convergence criterion. He brings about the background information regarding the economic, monetary and fiscal conditions that were prevalent in the member countries of East Europe. His quotation of the Euro norms, are quite apt and make for an easy understanding and worthy reading. 3. How well do the sections in this paper exhibit a clear, logical organization The progression of topics right from the European Union's History, followed by the Maastricht Treaty, the legislations cited from the convergence criteria and the analysis of the economic condition of the E.E states is logical. The authors' argument against the proposal by IMF to consider East European states on the lines of San Marino, Monaco and Vatican is clear and perfectly logical. His statements and the reasons with regards to the eastern states themselves were getting into peril with the entry into the community meritorious. But the author could have done better with respect to breaking down his articles under specific topics. The paper even though worth its weight in gold looks plain in the absence of headers and topics. 4. Do the paragraphs present Ideas clearly with one topic sentence per paragraph and all sentences supporting that topics sentence The paper is presented into paragraphs with clear and concrete ideas and the topical statement is clearly complimented by the other sentences in the paragraph. As said earlier, the author could have done well if he had demarcated the paper into the subsequent topics / headers. Of course the paper is complete with all the requirements like content quality, citations, bibliography, data which accentuates the authenticity of statements and a fitting conclusion). 5. Evaluate the stapling, the typing and other physical attributes relative to a serious, professional effort by a bright graduate of a prestigious university. The typing, stapling formatting and the other physical attributes like page layouts, live spacing etc., are professional worthy of a honorable student of a prestigious university. 6. Do the same for the spelling and the grammar. The grammar too was perfect without any redundancy or syntax errors. May be passive sentences, which are almost rare could have been avoided, but considering the paper as a work of research, it can be ignored. 7. To what extent do the bibliography and / or empirical results give the appearance of serious research Are the references and / or tables clear and complete Bibliography and citation are missing at the end completely. But actually on careful perusal of the body, the content has been cached from reasonable and authentic sources, like the EU legislations and the references from Black, for example. The author would do well to incorporate the missing bibliography. 8. How well does the author maintain a professional tone (For example, there should be no "stream of consciousness" lapses that suggest a hurried preparation.) The paper in no place shows contradictory sentences. Coherent views and clarity of thoughts, coupled with a real presentation underlines the time spent on this article. Almost all issues regarding East European and their entry into the European Union are covered. The possible suggestion could have been that presentation of the running deficit (fiscally), the GDP and their total debt in the form of a tabular column, in comparison with better performing states of the European Union could have made this article a lot better. 9. What single element of this paper most needs improvement A few more illustration which strengthens the author's arguments like schematic representations (charts and diagrams) could have been added. Moreover important attributes like the inflation rates (which could be used to compare price tags across the continent, where a single currency can cause considerable losses) might have added authenticity to the essay. 10. If you had important responsibilities in the business world and had just read this paper, would you be moved to include this person on your team Why or why not I will include this person in my team. The clarity of view and the quality of content shown in this paper shows the hard work and effort behind the paper. I feel the author can bring a difference to my team with his application and orderliness. The article portrays the author to be a great strategist and critical thinker. Read More