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.

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.

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.

In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of economic activity to exchange rate movements in the long run.

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.

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.

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.

The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge.

They emphasize the viewpoint that the protracted economic stagnation in Japan derives from incomplete economic adjustments to significant changes in relative prices.

The aging and decreasing population is a serious problem in many developed countries today. In Japan's case, these demographic changes are taking place at a more rapid pace than any other country has ever experienced.

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.

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.

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.

During the past two decades, inflation has fallen to a low level in major industrial countries.

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.

Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate sector and allocating investment funds among firms.

With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.

I don't like being recognised, I have no interest in being famous at all, I just do what I do. If I could be like Captain Kirk and beam myself up and then beam myself down, I would!

Judaism has always been a strong interest of mine. My two sons speak Hebrew and are familiar with the scriptures and with rabbinic literature. This is the way we live.

It is the interest one takes in books that makes a library. And if a library have interest it is; if not, it isn't.

I'm thinking of going to programming school. Learn how to sit down at any computer and learn to do anything on it. That's all I have left and have interest in.

I don't have a strong interest in history.

I'm not up on today's television for children, because it's mostly cartoons that don't seem to interest me.

It was clear that the special interest groups in California really wanted the Chinese to be shut out of the country, because that was where the racial tension was the greatest.

I think that the quality of all bands is steadily improving and it is a pleasant thought to me that perhaps the efforts of Sousa's Band have quickened that interest and improved that quality.

Warren Beatty took an interest in my career at one point.

Neither these statesmen nor their constituents sought in any way to use the Government for the interest of themselves or their section, or for the injury of a single member of the Confederacy.

I had given up the guitar between '75 and '78. I completely lost interest. I was sick of hearing other guitar players and I was tired of my tunes.

The government must do all it can to help reduce interest rates for business.

I went to the Academy and studied with Stuck who was then a big man. But didn't interest me. I didn't know that before me there was Kandinsky and Klee who had also studied with Stuck. He had a good name at that time.

I have no interest in sailing around the world. Not that there is any lack of requests for me to do so.

Pakistan has made no mention of ending our tests. We have a missile program, and it is in the national interest whatever we want to do.

A government for the people must depend for its success on the intelligence, the morality, the justice, and the interest of the people themselves.

Interest is the spur of the people, but glory that of great souls. Invention is the talent of youth, and judgment of age.

And when we draw lines in the sand with regard to certain basic things that are vital to our interest and to the interest of democracy and our friends around the world, we have to be willing to back that up.

However, when the privilege depends solely on the broad, undifferentiated claim of public interest in the confidentiality of such conversations, a confrontation with other values arises.

In precisely the same way money is often hired, and the hire paid for the use of it is called Interest.

I didn't have any interest in traditional art.

Yes, of course that's true but you know, the irony of all that is that before the accident, I'd pretty much lost interest in playing drums.

Having this interest here in the Redskins is the chief hobby of my life.

I never worry about diets. The only carrots that interest me are the number you get in a diamond.

Since the model he so faithfully copies is not going to be hung up next to the picture... it is of no interest whether it is an accurate copy of the model.

My legislation, the Simple Savings Tax Relief Act of 2005, simply eliminates the taxation of interest earned in savings accounts, such as passbook savings accounts or bank certificates of deposit.

Well, I think it's pretty much established that I just didn't have any interest in coaching in the pros.

Hors d'oeuvres have always a pathetic interest for me; they remind me of one's childhood that one goes through wondering what the next course is going to be like - and during the rest of the menu one wishes one had eaten more of the hors d'oeuvres.

Justice, sir, is the great interest of man on earth. It is the ligament which holds civilized beings and civilized nations together.

Some people find an interest in making money, and though they appear to be slaving, many actually enjoy every minute of their work.

Opinions are a private matter. The public has an interest only in judgments.

I want to run for the Senate from Tennessee. Not now, but when I'm 50, when music dies down a little bit. I know lots of artists and actors have those delusions of grandeur, but ever since I was a kid, it's been of interest to me.