Masaaki Shirakawa: The Central Bank from the viewpoint of "law and economics" Lecture by Mr Masaaki Shirakawa, Governor of the Bank of Japan, at the Faculty of Law, University of Tokyo, Tokyo, 21 October 2009. *  I. *  *  Introduction  I am happy to be speaking to you from this podium at the law faculty today.
Homebuilders, still faced with abnormally high inventories of unsold homes, are likely to cut the pace of their building activity further, which will subtract from overall growth and reduce employment in residential construction and closely related industries.