the fat that anyone at is willing to entertain that fed is willinge to entertain that notion -- see nextyouant to week? interested inore reading research papers. radical rethink is going to happen, it will not happen in open discussion on the floor. it will happen behind closed doors. blackballedve been from jackson hole since i criticize alan greenspan years ago. the value is to have the central bankers exposed to smart academics. >> we will look into the blacklisting. joe: you were in japan and met , i'm minister shinzo abe curious what your prescription is for japan, and having seen the abenomics experience over the last couple years with mixed results, what is your take away? what did you learn? >> we are seeing the limits of monetary policy. abenomics was the supposed to be unorthodoxnsion, monetary policy, and fiscal reform. the second error never came along. there has been note net fiscal stimulus. was a consumption tax hike, a big mistake. i was one of the people who help e not to do ab another round. i am an admirer of governor kuroda. i think the central bank of japan has done won

stimulate as soon work -- nextyou week?e calling repeatedly for other policy areas to take some action in order to support connectivity. i don't think many people noted it, but the french member of the board made interesting speech aftereek, in jackson hole chair yellen, where he did not really comment on the current situation, but he said it was up to see thatns support, otherwise the ecb would have no choice but to use conventional measures for a longer period of time. we currently have a low potential growth, a low potential interest rate. i think for the future, it is crucial that government eventually takes action and speeds up reforms and given what was announced in terms of elections, it is going to be very difficult. i think it is premature because we don't have enough information about a potential impact of brexit on the economy, because there are -- we know there are potential shocks in the next couple of months. in particular, the a tying referendum and it may be easier for them to decide something in december. c