英語 での Deflationary の使用例とその 日本語 への翻訳
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Deflationary Debt Spiral.
Deflation and the deflationary debt spiral.
And with each passing month we drift closer to a Japanese-style deflationary trap.
If the economic outlook and deflationary risks so require, the SNB will take further measures.".
Both the United States andEurope are well on their way toward Japan-style deflationary traps.
人々も翻訳します
Following this line of thinking, Ether would become deflationary by 2140- the same year Bitcoin is expected to issue their last token.
If you enacted this plan,it would devastate bank profits and cause a massive deflationary disaster.
In order to escape from such deflationary equilibrium, it is necessary to change people's expectations and create a situation in which economic entities take actions based on the assumption that prices will moderately increase.
Keywords: Monetary policy, zero bound on interest rates,liquidity trap, deflationary trap, non-Ricardian fiscal policy regime.
In a world in which deflationary expectations are entrenched, the holding of cash or deposits becomes a relatively better investment strategy, and firms' incentives to launch new initiatives through investing in business facilities and in research and development become reduced.
And if Japan's experience can teach Europe anything,it is that government attempts to haul consumers out of the deflationary abyss are fraught with difficulty.
In order to preempt the manifestation of arisk that conversion of the deflationary mindset-- which had shown steady progress until then-- might be delayed, and to maintain the momentum of expectation formation, the Bank expanded QQE at end-October 2014.
Nevertheless, if the current downward pressure on prices remains, albeit in the short term,there is a risk that conversion of deflationary mindset, which has so far been progressing steadily, might be delayed.
Such accommodative financial conditions have underpinned the economy, and the Bank's large-scale fund-provisioning measures have contributed-- in certain phases-- to maintaining financial system stability and preventing theeconomy from falling into a deflationary spiral.
If the current downward pressure on prices remains, albeit in the short term,there is a risk that conversion of deflationary mindset, which has so far been progressing steadily, might be delayed.
On the other hand, in a case where the conversion of the deflationary mindset does not make progress and market participants' medium- to long-term inflation expectations do not rise, the yield curve would flatten and financial institutions would have a stronger preference for JGB holdings.
The elemental problem is that once a high-debt state has lost 30pc in competitiveness within a fixed exchange system,it is almost impossible to claw back the ground in the sort of deflationary world we face today.
With regard to prices, upward pressure of a positive output gap and constraining factors,such as households' persistent deflationary mindset and a rise in productivity, have continued to exist at the same time, and the outlook is highly uncertain.
Furthermore, the fact that the expected growth rate on a nominal basis was lower than that on a real basis even when corporate profits increasedsubstantially in the mid-2000s tells us how persistent deflationary expectations were.
Finally There are problems with the strong economy and the emerging nations,such as the movements of separation and independence against deflationary deepening of Europe and Europe, the uncertainty of the situation in Russia, the situation in the Middle East.
As suggested by the phrase"deflationary trap," it is not easy to defeat deflation once it overtakes the economy due to the difficulty of achieving recoveries in consumption and investment once individual citizens and companies are in the grip of deflationary sentiment.
Based on this situation, as a risk factor, if the current downward pressure on prices remains,there is a possibility that conversion of the deflationary mindset, which has been progressing steadily so far, might be delayed.
Under the framework that the zero interestrate policy will be maintained until deflationary concerns are dispelled, if uncertainty about the economic outlook increases, the timing of lifting the zero interest rate policy will be automatically delayed.
Following this logic, Tobin suggested that purchases of longer-term securities by the Federal Reserve during the Great Depression could have helped the U.S. economy recover despite the fact that short-term rates were close to zero, and Friedman argued for large-scale purchases of long-term bonds by theBank of Japan to help overcome Japan's deflationary trap.
In light of these developments, the Bank decided at the end of October 2014 to expand QQE in order topreempt manifestation of a risk that conversion of the deflationary mindset might be delayed and to maintain the improving momentum of expectation formation.
With the conversion of the deflationary mindset progressing, the decline in crude oil prices will gradually push up economic activity and the trend inflation, and the actual inflation rate will also increase as the short-term downward pressure on prices will dissipate.
With regard to prices, upward pressure of a sustained positive output gap and constraining factors,such as households' persistent deflationary mindset and a rise in productivity, have been existing at the same time, and uncertainties are expected to remain high through fiscal 2021.
The first element was to dispel people's deflationary mindset and raise inflation expectations by making a strong and clear commitment to achieve the price stability target of 2 percent at the earliest possible time and implementing large-scale monetary easing measures to underpin the commitment.
Subsequently, even if those factors that induced price declines diminished, once deflationary expectations became entrenched, people would make decisions and take actions on the assumption that prices would not rise. Through this process, deflationary expectations themselves created in a self-fulfilling manner an economy in which prices did not easily rise.