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.
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.
Japan's economy is likely to experience a sustained period of expansion, with domestic and external demand and also the corporate and household sectors well in balance.
Our top priority is to help bring about sustained economic growth, and moving out of deflation is only half way there.
A low rate of inflation itself now poses a new challenge of achieving and promoting sustained economic growth in the global economy.
Asset price fluctuations have important implications for promoting more efficient resource allocations and achieving sustained growth in the long run.
We cannot say for sure that the current recovery will be durable and strong enough to push the economy back to a sustained growth path.
I certainly welcome discussions on how central banks can best contribute to sustained economic growth and sound development of the global economy.