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20世纪90年代初日本经济出现重大转折,从此陷入长期萧条之中。时至今日,日本学术界有关萧条成因和政策选择的争论一直未停歇过。争论还涉及《前川报告》、国际政策协调、泡沫经济、资产价格减缩和日本银行的货币供给政策等一系列问题。关于萧条成因的争论给人们以多方面的启示:后工业化社会经济周期演化的新特点;国际政策协调难以在参与国间对等进行;结构改革与宏观调控相辅相成;理性的经济政策选择应超越一般社会观念;应提高对通货紧缩的警惕性等。
In the early 1990s, the Japanese economy witnessed a major turning point and plunged into a long-term depression. Up to now, the controversy over the causes of depression and policy choices in Japanese academia has not stopped. The debate also touched on a series of issues including the “Maekawa Report,” the coordination of international policies, the bubble economy, the reduction of asset prices and the monetary policy of the Bank of Japan. The debates on the cause of recession have enlightened people with many enlightenments: the new characteristics of the evolution of the economic cycle in post-industrialized societies; the difficulty of coordinating international policies with the reciprocity of participating countries; the structural reform and macroeconomic regulation and control complement each other; and the rational choice of economic policies should go beyond normal Social concept; vigilance against deflation should be raised.