16/03/13 12:16:30.51 86x9zXFB.net
>>488の続き
This observation suggests that even in the best case Japan may face
a version of the timidity trap. Suppose it convinces the public that
it will really achieve 2 percent inflation; then it engages in fiscal
consolidation, the economy slumps, and inflation falls well below 2 percent.
At that point the whole project unravels - and the damage to credibility
makes it much harder to try again.