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
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.
adjustment downward factor low pointed prevents rigidity smooth wages
The downward rigidity of nominal wages is often pointed out as a factor that prevents the smooth adjustment of real wages under very low inflation.
achieving asset efficient growth price promoting resource sustained
Asset price fluctuations have important implications for promoting more efficient resource allocations and achieving sustained growth in the long run.
effects empirical exchange prices rate recent run short small
Recent empirical studies, however, show such short run effects become small because the exchange rate pass-through to import prices declines.
economic financial respond
All we can say is that we will respond appropriately to economic and financial conditions.
achieving challenge economic global growth inflation itself low poses promoting rate sustained
A low rate of inflation itself now poses a new challenge of achieving and promoting sustained economic growth in the global economy.
according adjusted economic extremely interest levels low move rates stay zero
Interest rates will stay at zero for a while, then move to extremely low levels before being adjusted according to economic conditions.
aware hope investors react
Investors are aware that the economy's fundamentals are firm. We hope they react calmly.
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.
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.
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.
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.