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"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."
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"We cannot be any stronger in our foreign policy for all the bombs and guns we may heap up in our arsenals than we are in the spirit which rules inside the country. Foreign policy, like a river, cannot rise above its source."
"We haven't had a good energy policy in this country for decades and we're trying to get one."
"In a constructive policy, there is 'adjust everywhere' and in a destructive policy, there is a policy of disadjustment."
"Any intervention, such as that of the German Reichsbank in the Spring of 1923, in which only a small part of the increasing note-expansion was recovered by the banks through the sale of foreign bills, would necessarily be unsuccessful. Led by the idea of opposing speculation, inflationistic governments have allowed themselves to become involved in measures whose meaning is hardly intelligible. Thus at one time the importation of notes, then their exportation, then again both their exportation and importation, have been prohibited. Exporters have been forbidden to sell for their own country's notes, importers to buy with them."
"When you see how the President makes political or policy decisions, you see who he is. The essence of the Presidency is decision-making."
"For almost twenty years, abortion policy in America has been controlled by the courts."
"Already, China has undermined U.S. foreign policy in efforts to gain access to oil resources in Iran and Sudan. We simply cannot separate the political and economic values of oil."
"Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently."
"The American foreign policy trauma of the sixties and seventies was caused by applying valid principles to unsuitable conditions."
"On the other hand, it is not fair to say that changes in federal policy have caused our tuition to rise faster. Every economic argument imaginable would indicate that we should raise tuition at a faster rate than we do."
Explore more quotes by Toshihiko Fukui
"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."
"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."
"During the past two decades, inflation has fallen to a low level in major industrial countries."
"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."
"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."
"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."
"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."
"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."
"The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge."
"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."
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