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.

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.

At the end, the realization is that she had to get to a place in her life where she could drop her guard and make peace with the fact that whether she had a small amount of time, that she had to kind of live it completely through, instead of living by the rules.

President Johnson and I have a lot in common. We were both born in small towns and we're both fortunate in the fact that we think we married above ourselves.

The fact is I've been in Massachusetts for the last two weeks, and it seems over the last few days that the price is increasing by the hour at the pump, so there needs to be an aggressive investigation.

In fact, it is a farce to call any being virtuous whose virtues do not result from the exercise of its own reason.

Working-class Americans have waited too long, close to a decade in fact, for an increase in the minimum wage. This has been the second longest period without a pay raise since the Federal minimum wage law was first enacted in 1938.

The fact is, Latinos now own their own lives and I believe they can afford to look back without judgment.

The fact that it's science fiction gives you the license to do anything you want to do.

It has to do with the fact that Ford, for all his greatness, is an Irish egomaniac, as anyone who knows him will say.

I never knew a more presumptuous person than myself. The fact that I say that shows that what I say is true.

I think the fact that I'm so well known to be gay makes it very difficult to have a convincing relationship with a woman on screen. It wouldn't be at all difficult for me to kiss a woman - I'll kiss a frog if you like.

People expect us to be different, but we're not. We're very similar people, and it's because we're so similar and close to each other that we make each other laugh - in fact we make each other laugh more than we make anyone else laugh.

I can't tell you how hard I worked the last year. In fact, I worked so hard that I know I can't maintain that same work level in 2001, so I've got to quit something.

The miracle of light pours over the green and brown expanse of saw grass and of water, shining and slowly moving, the grass and water that is the meaning and the central fact of the Everglades. It is a river of grass.

The key to accepting responsibility for your life is to accept the fact that your choices, every one of them, are leading you inexorably to either success or failure, however you define those terms.

In fact I have nightmares about having children. I want to carry a baby and feel the life within me and in my dream, I do. But every time after it's born, there's this incredible fear, this pounding pulse of fear. It's a real bad nightmare.

All my songs were solo voices. Just me singing. In fact, that was the gimmick - no gimmick. Just singing straight with not too much background.

The fact is that young people are going to have sex whether you like it or not.

We have stabilized our economy. We took over a very sick economy, and we were hemorrhaging 750,000 jobs a month. We have stopped the hemorrhaging. In fact, we had 140,000 job growth last month. And that's what I call progress.

As a matter of fact they'd blacken us down. I guess there's a reason that according to what the Caucasian wanted us to look like. He wanted us to look-if we were Black, then he had his idea of what we look like.

I felt pretty comfortable with Westerns, apart from the fact I couldn't ride.

There are in fact two things, science and opinion; the former begets knowledge, the later ignorance.

Every day some new fact comes to light - some new obstacle which threatens the gravest obstruction. I suppose this is the reason which makes the game so well worth playing.

There is nothing as mysterious as a fact clearly described. I photograph to see what something will look like photographed.

In fact, words are well adapted for description and the arousing of emotion, but for many kinds of precise thought other symbols are much better.

It has long been known that the chemical atomic weight of hydrogen was greater than one-quarter of that of helium, but so long as fractional weights were general there was no particular need to explain this fact, nor could any definite conclusions be drawn from it.

That the apostolic office is temporary, is a plain historical fact.

I knew exactly what I was, and there was no hang-up with me. None whatsoever. The fact that the pigment of my skin maybe being lighter brown than other people of my race, maybe some of them, but you know our race has all colors.

Facts, according to my ideas, are merely the elements of truths, and not the truths themselves; of all matters there are none so utterly useless by themselves as your mere matters of fact.

Science is organized common sense where many a beautiful theory was killed by an ugly fact.

Love is the affinity which links and draws together the elements of the world... Love, in fact, is the agent of universal synthesis.

I'm doing naughty things, I'm drinking too much, I'm going to clubs. It really didn't matter to me, other than the fact that some parents wouldn't let their kids hang out with me.

Because when the film was first mooted, the Beatles didn't like the idea at all. In fact they wouldn't have any part in it. And when Brian had committed them, it was part of a deal he did with United Artists, I think.