: Recent economic and financial developments and the conduct of monetary policy

: Recent economic and financial developments and the conduct of monetary policy
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:近期经济和金融发展以及货币政策的实施

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发表时间:
2008
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通讯作者:
K. Nishimura
K. Nishimura
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文献类型:
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作者:
K. Nishimura

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日本经济自2002年初触底以来持续复苏。尽管在此期间2%左右的实际GDP平均增长率看起来并不是特别高,但它超出了经济的潜力,并显示出显著的稳定性。这种稳定性不是来自于各部门需求波动的一致下降,而是来自不同部门需求的小幅波动的抵消。事实上,这一时期的一个显著特征是,不同行业的生产高峰期时间各不相同。
The Japanese economy has recovered continuously since hitting the bottom in early 2002. Although an average of around 2 percent real GDP growth during this period does not seem particularly high, it is above the economy's potential, and shows remarkable stability. Thestability comes not from a uniform decline of demand fluctuations across sectors, but from a canceling-out of small fluctuations of demand in different sectors. In fact, one salient characteristic of this period is that the timing of peak production varied among industries.