Toshihiko Fukui
Toshihiko Fukui
Toshihiko Fukui is a Japanese economist and central banker. He was the 29th Governor of the Bank of Japanand a Director of the Bank for International Settlements...
NationalityJapanese
ProfessionPublic Servant
Date of Birth7 September 1935
CountryJapan
abnormal adhere agree calls cannot continue firmly policy
We firmly cannot agree to adhere to calls to continue with an abnormal policy forever,
early easing ended rate zero
We've just ended quantitative easing so it is too early to say when to end the zero (interest) rate policy.
country past two
During the past two decades, inflation has fallen to a low level in major industrial countries.
impact immigration population
The aging and declining population will have far-reaching impacts. Declining fertility rates will possibly increase immigration. The structure of family and society will inevitably change.
country japan asian
The direct investment of Japanese businesses to East Asian economies accelerates the reallocation of their production bases. Consequently, between Japan and the other East Asian countries, both exports and imports are growing substantially.
research-and-development growth intangible
As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.
two growth economic
The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.
japan years long
Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.
two division-of-labor keys
The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge.
zero perception should
However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.
derives emphasize incomplete protracted relative stagnation viewpoint
They emphasize the viewpoint that the protracted economic stagnation in Japan derives from incomplete economic adjustments to significant changes in relative prices.
asian current east growing japanese recovery taking
In this context, the current recovery in the Japanese economy is taking place in tandem with the growing interdependence with the rest of the world, particularly with the other East Asian economies.
analysis asset based experience half influence institute present price second since staff structural sustained
The staff at the Institute will present an analysis on how asset price fluctuations and subsequent structural adjustments influence sustained economic growth, based on Japan's experience since the second half of the 1980s.
ask current economic economy questions reach sufficient sustained whether
Thus, the questions we should ask here are what makes the current economic upswing different from the past two recoveries, and whether such differences are sufficient for the economy to reach the sustained growth path.