Shirakawa on boosting productivity growth
Increasing the rates of labour force participation and productivity were key to remedying deflation, Masaaki Shirakawa, the governor of the Bank of Japan, said on 29 November.
"Japan's labour force population peaked in 1998 and has been declining since, while the total population started to decline in 2005. For this reason, existing domestic markets in many areas, such as automobiles, have been shrinking. The demographic situation is a given," Shirakawa said. This meant increasing participation
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