Prime Minister Sanae Takaichi is known as an easy-money, fiscal and monetary dove who is going to spend Japan out of trouble in the spirit of Abenomics, so much so that Tokyo stocks have staged a dramatic rally since she became the presumptive prime minister in early October.

At least one economist objects to this characterization of Takaichi's policy preferences, arguing that she's more of a supply-sider than a Keynesian, more focused on stimulating production than demand.

“Rather than lavish fiscal expansion, she seems to be seeking to raise the ceiling of the supply side through pinpointed, micro-level policies,” said Shunsuke Kobayashi, chief economist at Mizuho Securities.