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February 6, 2001
Bank of Japan
In the context of its intention stated in the report "On Price Stability" published on October 13, 2000, the Bank has decided to organize the Workshop on Price Stability.(Excerpt from the preface of "On Price Stability")... issues related to price stability are wide-ranging and complex. There are still many unresolved issues from the viewpoint of economic theory as well as problems in the compilation of price indexes. Furthermore, since Japan's economy is currently experiencing dramatic structural change, it may well be the case that the answers will gradually change in line with the development of the economic environment. Therefore, with this report as one important step, the Bank of Japan will continue examining issues related to price stability. The objectives of this workshop are to exchange views and thereby deepen understandings among participants of a wide range of issues concerning price stability as well as their implications for monetary policy.The workshop will consist of diverse members including academic scholars, government experts, market economists, statisticians, business professionals in distribution industry as well as the Bank's staff.
Three separate meetings will be held by the fall of 2001, the first of which is scheduled on April 19.The provisional theme of each meeting is as follows.
1st meeting : "Issues concerning measurement of prices"
2nd meeting : "Decline in prices and its implications for economic activities"
3rd meeting : "Monetary policy under uncertainty with regard to price stability"
Since the primary objective of the meetings is a better understanding among participants, the workshop is not expected to set forth an official report or policy recommendations.It is the Bank's intention, however, to make the submitted papers accessible by the public.Summary of the discussion will also be released on the Bank's web-site and other means of publication.